What does Safety Audit mean? Read on to discover the definition & meaning of the term Safety Audit - to help you better understand the language used in insurance policies.
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.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Safety Audit. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: