Overview
WIBA Cover is designed to provide essential insurance benefits for employees who suffer work-related injuries or illnesses. It ensures that workers are compensated for medical expenses, loss of income, and other related costs.
Coverage Scope
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A. Mandatory Benefits
- Death Benefits: Compensation equivalent to 8 years' earnings for beneficiaries in the event of a work-related death.
- Permanent Total Disability: Compensation equal to 96 months' earnings for employees who are permanently unable to work due to injury.
- Permanent Partial Disability: Compensation based on the percentage of disability as assessed by a qualified medical professional.
- Temporary Total Disability: Compensation equal to 12 months' earnings for employees temporarily unable to work due to injury.
- Medical Expenses: Coverage for actual medical costs incurred as prescribed for treatment related to work injuries.
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B. Additional Benefits
- Funeral Expenses:
- Artificial Appliances and Rehabilitation: Coverage for artificial appliances and rehabilitation costs up to a specified limit.
- Transport Costs: Reimbursement for transport costs incurred while traveling to medical facilities up to a specified limit.
- Emergency Evacuation Costs: Coverage for emergency evacuation expenses in case of serious injuries requiring immediate transport to medical facilities.
Policy Features
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A. Premium Calculation Basis
- Premiums are calculated based on:
- Annual Wage Roll: Total annual wages of employees covered.
- Nature of Business/Occupation: Risk associated with specific industries.
- Claims History: Past claims experience that influences premium rates.
- Number of Employees: Total number of employees covered under the policy.
- Risk Management Measures: Implementation of safety measures and risk mitigation strategies.
- Premiums are calculated based on:
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B. Claims Process
- Immediate Notification Requirement:
- Medical Examination: A medical examination by an authorized practitioner is required to assess the injury.
- Injury Report Submission: Submission of an injury report detailing the circumstances and nature of the injury.
- Wage Documentation: Documentation of employee wages to calculate compensation.
- Treatment Records: Records of medical treatment received for the injury must be submitted.
Target Market
- Employers across various industries seeking to comply with WIBA regulations.
- Small to large businesses employing workers who may be exposed to workplace hazards.
- Companies looking to enhance employee welfare and demonstrate a commitment to occupational safety
Benefits of WIBA Cover
- Legal Compliance: Ensures that employers meet statutory requirements under the Work Injury Benefits Act.
- Financial Protection: Provides essential financial support to employees and their families in case of work-related injuries.
- Employee Confidence: Enhances employee morale and confidence in workplace safety, knowing they are protected.
- Risk Management Support: Encourages employers to implement safety measures to reduce the risk of workplace injuries.
Main Exclusions
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General Exclusions
- Injuries resulting from willful misconduct or self-inflicted harm.
- Injuries occuring during illegal activities.
- Injuries sustained while the employee was under the influence of drugs or alcohol.
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Operational Exclusions:
- Injuries occurring outside the scope of employment or during unauthorized activities.
- Injuries arising from the use of company vehicles without proper authorization.
- Sickness or injuries resulting from nuclear energy risks.
- Sickness resulting from exposure to asbestos whether directly or indirectly.
