Occupational Safety and Health Act (OSHA)
Definition - What does Occupational Safety and Health Act (OSHA) mean?
The Occupational Health and Safety Act (better known as OSHA) is a piece of legislation that was enacted in 1970. This act established the Occupational Health and Safety Administration and tasked it with providing inspections of workplaces to make sure they are safe. In the context of insurance, the Occupational Health and Safety Act seeks to reduce and eliminate hazards in the workplace which can significantly reduce workers' compensations insurance claims.
Insuranceopedia explains Occupational Safety and Health Act (OSHA)
The Occupational Health and Safety Act applies to both private sector and public sector companies. It applies to almost every company that has employees. Self-employed people and family farms, however, are not covered by the act. The act was created after it became increasingly evident that chemicals could cause injuries in the work place in the 1960s. In addition to hazardous chemicals, the Occupational Health and Safety Administration also seeks to get rid of other hazards in the workplace such as dangerously set up equipment, unsanitary conditions, or excessive heat or cold.