AKD Softwoods and Collins Foods have each won the Vero RM Advancer award for excellence in workers’ compensation and liability risk management.

Now in their 14th year, the awards acknowledge remarkable risk management in various categories.

Timber processing company AKD won in the manufacturing and logistics area, while Collins Foods – the owner of brands KFC, Taco Bell and Sizzler – was recognised in the goods and service providers area.

The commercial category was awarded to ASX-listed rail freight operator Aurizon, while Rapid Plas – a family-owned manufacturer of rainwater tanks and animal care products such as feed troughs – took the SME prize.

The winners were revealed at an awards night hosted by GIO and Suncorp-owned insurer Vero in Woolloomooloo on Thursday. Each business will receive 200,000 Virgin Velocity points.

Suncorp Executive GM Darren O’Connell thanked applicants for their focus on risk management. The diverse spread of industries involved in this year’s awards demonstrated the importance of risk management for many Australian companies, he said.

Rapid Plas deployed safety training and development; Aurizon was recognised for its strong risk management to reduce derailments; Collins Foods for implementing a safety campaign to reduce Lost Time Injury frequency and claims costs; and AKD Softwoods for establishing a process to actively manage claims as well as engaging an onsite physiotherapist.

“We were particularly impressed by the number of entries in the workers’ compensation and liability category, indicating an increased awareness of the importance of mental and physical health in the workplace,” Mr O’Connell said.

“With workers’ compensation often one of the biggest insurance costs, risk management is vital.”