Common Risks Cause Small Business Owners the Most Worry

RENO, Nev.--(BUSINESS WIRE)--Feb. 12, 2014-- There is good news for the millions of Americans who work for small businesses. Keeping employees safe at work is a top concern for small business owners, according to a survey sponsored by EMPLOYERS^® (NYSE:EIG), America's small business insurance specialist^®.

Workplace safety risks were cited as the source of greatest worry and the area where small business owners expect to dedicate most of their attention this year, more than professional liability risks, cyber-security risks, natural disaster risks and terrorism risks.

“Small business owners realize they have to protect their most valuable assets – their employees,” said EMPLOYERS Chief Operating Officer Stephen V. Festa. “Employee injuries can carry a significant cost, not only in terms of medical and workers’ compensation expenses, but also in terms of lost productivity and potentially lower workplace morale.”

“We wanted to see how prepared small business owners believe they are for the types of injuries that are most common in the workplace, or if they were placing too much emphasis on events that are unlikely to occur,” Festa said. “We were relieved to find that the most common type of injuries – slips, trips and falls – was cited most often. However, we were surprised that almost four out of five small business owners did not claim to be most prepared for them.”

Slips, trips and falls account for nearly a quarter of all nonfatal workplace injuries¹ and 15 percent of all fatal workplace injuries² that occur in the private sector, according to the U.S. Bureau of Labor Statistics.

Other common causes of workplace injuries that small business owners said they are prepared to handle include motor vehicle accidents (12 percent) and employees coming into harmful contact with objects and equipment (12 percent).

Small business owners felt least prepared to address acts of violence or fires or explosions that occur at the workplace.

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¹ Source: U.S. Bureau of Labor Statistics, U.S. Department of Labor, Survey of Occupational Injuries and Illnesses in cooperation with participating State agencies, November 26, 2013. http://www.stats.bls.gov/iif/oshwc/osh/case/ostb3656.pdf

² Source: U.S. Bureau of Labor Statistics, U.S. Department of Labor, 2013. http://www.bls.gov/iif/oshwc/cfoi/cfch0011.pdf

Methodology

All figures, unless otherwise stated, were collected by International Communications Research’s thinksmall Survey, a national quarterly telephone omnibus survey. Interviews were completed with a nationally representative sample of 502 small businesses that have fewer than 100 employees. Fieldwork was conducted between November 12 and November 26, 2013.

About Employers Holdings, Inc.

Employers Holdings, Inc. (NYSE:EIG) is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates throughout the United States. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: www.employers.com.

Copyright © 2014 EMPLOYERS. All rights reserved.

Source: EMPLOYERS

Employers Holdings, Inc.
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Ty Vukelich, 775-327-2677
Vice President, Corporate Marketing
tvukelich@employers.com
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