Insurance Accounting and Risk Samples †MyAssignmenthelp.com

Questions: 1.In your opining and understanding related with Insurance Accounting where risk plays a very important factor. 2.What are the five steps when carrying out to work place Risk Assessment? How do you assess the risk assessment related with the health and safety point of view? Answers: 1.In Insurance Accounting risks plays an integral factor within workplace that needs be identified. Risk assessment will allow protection of workers and the business by complying with necessary laws. The five steps in Risk Assessment process includes the following; Identifying hazard: A prominent distinction needs to be made between a risk and a hazard. As a hazard is said to something that might impact on a potential Whereas risk is recognized to be the likelihood causing the harm. Deciding upon the person who can be harmed and ways in which he can be harmed: Upon identification of the hazard, it becomes impertinent to recognize persons that might be harmed. Evaluating risks and then deciding upon control measures: This step includes ways in protecting people from potential harm. It is done by understanding if the hazard can get removed or risks of injury can be controlled. Recording of findings and then implementing them: It is impertinent to record findings as a form of legal requirement. Recording reflects appropriate identification of hazards, deciding upon the person harmed and ways to tackle the risks. Reviewing assessment and then updating them accordingly: Risk assessments needs to be reviewed periodically and then updated as well. As workplaces keep changing over a period of time, a continuous process has to be initiated. 2. Employers have duty to understand health and safety related risks that workers faces. Employers needs to systematically evaluate risks from point of view of mental, chemical and physical hazards. A physical hazard relates to awkward postures, lifting, slips and trips, dust, machinery, noise, equipment, computer and so on. Mental hazards relates to long work hours, excess workload, bullying, working with high demand clients. These hazards are often identified to be psychosocial hazards that affect mental health. Chemical hazards can arise from cleaning fluids, aerosols, asbestos and so on. Biological hazards can arise from hepatitis, tuberculosis or any other infections of other workers.