IGNOU MIS 21 2026 2027 - Cost of accidents

Question

Cost of accidents

07 Aug 2026

Answer :

Word Count : 324

The **cost of accidents** refers to the financial, social, and operational losses suffered by an organization, workers, and society due to workplace accidents. Accidents not only cause injuries and loss of life but also affect productivity, reputation, and overall efficiency. ### 1. Direct Costs of Accidents Direct costs are the immediate and visible expenses resulting from an accident. These include: * **Medical expenses:** Costs of first aid, hospital treatment, medicines, and rehabilitation. * **Compensation payments:**

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