Cost of Accidents at Work Calculator

Formula

The formula to calculate the Cost of Accidents at Work is:

\[ \text{COA} = \text{DC} + \text{IC} \]

Where:

$\text{COA}$ is the Cost Of Accidents At Work (\$)
$\text{DC}$ is the direct costs of the accident (\$)
$\text{IC}$ is the indirect costs of the accident (\$)

What is Cost of Accidents at Work?

The Cost of Accidents at Work (COA) refers to the total expenses incurred due to workplace accidents. This includes both direct costs, such as medical expenses and workers' compensation, and indirect costs, such as lost productivity, training replacement employees, and legal fees. Calculating the COA helps organizations understand the financial impact of workplace accidents and underscores the importance of maintaining a safe working environment.

Example Calculation

Let's assume the following values:

Direct Costs (DC) = $10,000
Indirect Costs (IC) = $5,000

Using the formula:

\[ \text{COA} = 10,000 + 5,000 = 15,000 \]

The Cost of Accidents at Work (COA) is \$15,000.