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5.2.3.1 Equity Principle

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The equity principle is based on the underlying assumption that all individuals should have a minimum protection against injury and fatality. This does not necessarily mean that everyone are treated “equally,” but in practice, it means that no one should be exposed to risk above a certain level. If the equity principle is applied, a maximum risk level for individuals is thus established, and this acts as our acceptance criterion. This implies that if the risk is above this maximum level, measures to reduce risk should be implemented to reach at least the maximum acceptable level, regardless of the cost of reducing risk. The equity principle can be regarded as a principle that focuses on the individual.

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