The Health and Safety at Work Act 1974 (HASWA) (and its many revisions) apply to everyone at a place of work, including artists' studios. An overview of its implications is at the Health and Safety Executive website.
Many materials and activities involved in creating work can be hazardous and can cause injury or harm to artists and others. When renting or managing studios where artists are working there are many other regulations apart from the HASWA that need to be observed (such as the Building Regulations Act of 1976 and the Fire Precautions Act of 1971) in addition to insurance, leasing and contracting obligations.
Most studio complexes, for example, will not insure the personal or creative contents of each individual studio. This is the responsibility of the renting artist.