Page 19 - Insurance Times September 2023

have taken a 'Safe System' based approach have achieved because insurers prefer that the insured customers always
both the lowest rates of fatalities and the greatest reduction respond to risks, as if they were uninsured and take
in fatality levels over a length of time. precautions to avoid loss. However, insurance provides the
security of a financial safety-net in the unfortunate
Evolution of Vision Zero eventuality of an unavoidable financial loss,
The right to life and physical integrity is a basic fundamental
There are many similarities between insurance and the
right for everybody. The International Labour Organization
philosophy underlying Vision Zero as the essence of
(ILO) has estimated that there are around 360,000 fatal
insurance is effective risk management. Vision Zero also
accidents at work and more than 1.95 million deaths caused
seeks to protect our most valuable assets namely life and
by diseases resulting from poor working conditions and
health from the adverse consequences of risk.
exposure to harmful materials.
The most valuable and indispensable human asset of any
The collapse of the Rana Plaza garment factory complex
country is its work-force and safe-guarding the same is
near Dhaka in April 2013 killing 1,132 persons and injuring
important. It is only when life and health are assured from
nearly 2,000 more for example, is a human tragedy which
harm can commitment to work be optimized. Therefore,
cannot be forgotten. Hence, we have a long way to go in
Insurance and Vision Zero both endorse the success of
ensuring this primary humanitarian requirement since the
enterprises, efficient production as well as motivated and
large numbers of accidents at work and on the roads show
productive employees.
that our safety standards are abysmal.
The Zero Vision strategy has evolved into a prevention The Principles of Vision Zero and the

strategy that is based on the concept that accidents Role of Insurance
whether on the road or at work can be prevented provided Vision Zero is based on the four following principles and
that right measures are in place. This concept also extends
insurers have an important role in realizing each of them:
to occupational diseases which cause fatalities or
1. The first and foremost principle is that Life is not
permanently damage health. Thus an important aspect of Negotiable
this culture of safety is to ensure working conditions where
Nothing can be so important that it can be weighed up
people can make mistakes, without risking fatalities and
against human life and physical integrity. Safeguarding
injuries.
this right should be primary to everybody's duty. This
duty encompasses not only the Governments but also
This application of the Zero Vision strategy in its broader
hazard-prone industry managers and insurers;
sense is finding global acceptance. The International Social
particularly accident insurers.
Security Association (ISSA) and the International Labour
Organization (ILO) have advanced this concept further to 2. The second principle is to acknowledge that people will
various industries. (The International Social Security make mistakes.
Association is an international organization bringing together A close examination of accidents, whether traffic
national social security administrations and agencies. It was accidents or at the work-place will indicate that that
founded in 1927 and has more than 330 member was human error in the chain of events which ultimately
organizations in 158 countries.)The heads of government of led to the accident. Hence, needless to mention, it is a
the seven most advanced industrial nations, known also as fact that mistakes cannot be totally avoided. Even so,
the G7, announced their commitment to Vision Zero at their Vision Zero emphasizes that mistakes must not cost
annual meeting at Elmau in the year 2015. precious lives.
It would be pertinent to draw attention to the fact that
Insurance vis a vis Vision Zero mistakes are acknowledged by insurers to cause
accidents and the entire gamut of liability insurance
Insurance helps to protect life, health and our physical
covers negligence as a cause of third-party claims.
assets from loss or damage caused by insurable perils. Even
as insurance helps to indemnify financial losses, in the 3. The third principle is that the ability to cope with
process it also inculcates a culture of loss prevention. This is physical and mental pressure is crucial
The Insurance Times September 2023 17