Definition - What does Safety Audit mean?
A safety audit refers to the evaluation of the safety practices within a workplace. These practices are evaluated according to how effective they are and how they measure to the safety standards of the community or the state. A safety audit might be a necessary component in obtaining insurance for a property.
Insuranceopedia explains Safety Audit
In a workplace, measures are set up to eliminate the possibility of harm to the workers. From time to time, these measures are inspected by those working in that workplace. These regular inspections are called safety inspections. Independent evaluators are often brought in to perform the safety audit. This evaluation is called safety audit.
If the owner or the management of a business wants a commercial property insured, an insurance company might find it prudent to ask that company for a safety audit. The results of this audit can determine coverage and the price of the policy. It can even cause the insurance company to deny insurance to that property.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.