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Accident Insurance doesn't care who's fault Insurance only considers consequences: Accident Fatality Permanent Disablement Temporary Disablement
Scope of Cover To indemnify the insured's legal liability under the contract of employment to pay medical expenses and compensation including legal costs in respect of death or bodily injury by accident or through occupational disease caused during the period of insurance to any employee whilst being engaged, in the course of employment by the insured, in the work connected with the Insured's trade.
Temporary Disablement Usually there is no compensation Medical Expenses Salary during disablement period Emergency Transportation Cost Hospital Allowance
Permanent Disablement Compensation (up to 48 months actual income) Medical Expenses Salary during disablement period Emergency Transportation Cost Hospital Allowance
Permanent Disablement If the company aim to terminate the employment contract following an accident may consider to pay lump sum according to local regulation.
Fatality 36 months actual income compensation
Case History Male 30 years old working in Suzhou Arm Broken - Disability Level V Transportation and Medical Expenses (100%) Disablement Compensation = 48 x Actual Monthly Salary x 50% (compensation ratio for level V) Non working Salary: 100% subject 3 days excess Hospital Allowance: 100 rmb/day Lump Sum Subsidy: 30 months average local salary
Extension Clauses Employees Working During Extraordinary Weather Conditions Clause Extended To Cover Employees Whilst To And From Work 24 Hours Extension (Covers For Both Work-Related And Non-Work Related Bodily Injury And Death)
Next Step: D&O According to US and EU laws a Director can be in certain circumstances liable for an accident resulting in the death of an employee. If it is established that there were breaches of Health and Safety procedures, the Managing Director, who has been identified as the ‘Controlling mind and will’ of the Company, can be prosecuted for Corporate Manslaughter.