Risk Analysis in the Automobile Industry

1
Risk Analysis in the Automobile Industry

• By
• Don Sylvester
• Jeongho Yoo

2
Automobile Industry Risk

• Workers Compensation
• Employee Risk
• Benefits for Employees

3
Workers Compensation

• Definition
• Need
• Methods

4
Definition

• Basic Philosophy
• No-fault insurance program
• Job Related Injury or illness

5
Need

• Employee
• Recovery of financial losses
• Recovery of physical harm
• Employer
• Safety net for lawsuits
• Employee Satisfaction

6
Methods

• State Fund or Federal Agency
• Self Insure
• Private Insurance Companies
• Automobile Industry

7
Employee Risk

• Death / Injury
• Physical Impairment
• Rehabilitation / Training

8
Death / Injury

• Hydraulic Press
• High Voltage Equipment
• Toxic Fumes
• Heavy Machinery

9
Physical Impairment

• Loss of limbs
• Loss of vision
• Loss of hearing
• Back Pains
• Broken Bones

10
Rehabilitation / Training

• Back Pains
• Broken Arm/Legs

• New Machinery
• New Tasks

11
Benefits for Employees

• Death
• Medical / Rehabilitation
• Income

12
Death

• Funeral Expense
• Income for Survivors

13
Medical / Rehabilitation

• All Medical Expense Paid
• Different Job Training
• Paid Physical Therapy

14
Income

• Limited Income while on W.C.
• For Permanent injury - pay lifetime
• For Temporary injury - duration of disability

15
Automobile Industry Risk

• Workers Compensation
• Employee Risk
• Benefits for Employees