The indirect cost of risk is the portion of the total cost of risk (TCOR) that is not directly related to the cost of managing risks. It includes the cost of lost productivity, damage to reputation, and other indirect costs resulting from risks. The indirect cost of risk is often more difficult to quantify than […]

The total cost of risk (TCOR) is a term used to describe the overall cost associated with managing risks within an organization. It includes both the direct costs of risk management (such as premiums for insurance policies) and the indirect costs of risk (such as lost productivity due to accidents or injuries).   TCOR is […]

There are several potential downsides to having poor workplace safety: Injuries and fatalities: Poor workplace safety can lead to injuries and fatalities, which can have severe consequences for the affected employees and their families. Increased workers’ compensation costs: Poor workplace safety can lead to a higher number of workers’ compensation claims, which can result in […]

Computer vision is a field of computer science that involves using machine learning algorithms to analyze and understand images and video. Computer vision can be used to improve workplace safety in a number of ways:   Monitoring high-risk areas: Computer vision systems can be used to continuously monitor high-risk areas in the workplace, such as […]