Group accident insurance
The protection of employees, especially in jobs exposed to accidents at work, is a priority for any company. Group accident insurance provides an effective help in this aspect as in comparison to the employer liability insurance it does not require to “sue” the case after an accident at work, only medical documentation is required to settle the damage upon the insurance.
This sort of riskmanaging solution is to be concluded for accidents and illnesses with optional content, with pre-determined indemnity amounts included in the contract, but can also be supplemented with a life insurance element.
With regard to the territorial coverage you can choose the option covering the commuting between home and working place, ie the insurer’s obligation to reimburse arises if the accident occurred at the working place, during the working activity or on the way to work, or on the way home. In contrast, the other solution means significant extension, 24-hour worldwide coverage, which provides service in the event of damage anywhere and anytime (in connection with anything) (even in case of home accident).
Of course, there is a way to develop chiseled solutions by forming groups of members on the base of their jobpositions,ie a separate insurance applies to salespeople, area representatives who are on the road all day and another one for the office workers.
When determining the amount of compensation, it is also important to take into account the income of the insured employee, on the one hand, so that he should receive real, tangible assistance after paying the insured amount and, on the other hand, the insured amount should not encourage the absence of employee ( if the contract includes the hospital daily allowance, then the amount set for one day should not be higher than the employee’s daily wage, as in this case – in no attributable way – it might lead to the attitude when he is not in a hurry to embark on the path of recovery).
This method similar to health insurance is suitable for taking care of employees, as in the event of an accident the management of the company is able to support financially their recovery. Our experience show that a group accident insurance contract can be a significant factor in reduction of fluctuation and in retaining the labor force in the company, especially if any of employees has already received the support in question.