What is it?
Work Injury Compensation insurance protects you against any unforeseen personal injury/death that is caused by accident arising out of and during the course of employment by your employees
Under WICA, employers are to maintain work injury compensation insurance for (i) all employees doing manual work and (ii) non-manual employees earning $1,600 or less a month. Failure to do so is an offence punishable by a maximum fine of $10,000 and/or imprisonment of up to 12 months.
While it is not mandatory for employers to maintain insurance for non-manual employees earning more than $1,600 a month, employers will still be required to pay compensation in the event of a valid claim, even if they do not buy insurance.
- Medical Bills of Injured employee
- Medical Leave Wages
- Compensation of Death or Permanent Incapacity (if applicable)\
How to calculate Premium?
Premium is computed based on:
- Nature of Business
- Number of Employees
- Scope of Employees’ jobs
- Claims history
- Underwriting requirements by Insurers
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