The study shows the economic importance of occupational safety and health. The problem of underfinancing of measures on the improvement of labor conditions and safety is raised by the author. The author proposes a solution of this problem within the framework of a new approach to forming financial provision of occupational safety in the form of seven principles of financing: priority, recoverability, stimulation and motivation, social and public-private partnerships in the field of occupational safety, minimization of the "human factor" and professional cultivation. He also expresses his opinion on the use of the above principles.