Workmen’s Compensation Insurance

Workmen’s Compensation Insurance is now known as Employer’s Liability. It is intended to provide an open and fair system of guaranteed and adequate compensation for employees or their dependants in the event of death, injury, disease, or disability arising out of or during employment. Its purpose is to prevent workplace injuries and other occupational hazards. This product covers an employer’s liability that is not covered by the statutory employee compensation administered by the Nigerian Social Insurance Trust Fund (NSITF).

Workers’ compensation coverage depends on the Employer’s payroll and the nature of the employee’s role. Besides, the Insurance policy covers the employee even if the person contributed to the injury. The typical benefits of this insurance plan to a work-injured employee include the following:

• Medical expenses for the injury sustained.
• Possible legal expenses if the employee sues the business for negligence which led to the injury.
• The beneficiary of the deceased worker will receive death benefits.
• Employees who temporarily or permanently suffer disabilities get reimbursement of wages.
• Covers new skill acquisition costs for employees who may not return to their routine work due to sustained injuries.