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Group Personal Accident Insurance

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What is Group Personal Accident Insurance?

Group Personal Accident Insurance protects your workers from the financial impact of an accident or illness. Unlike Workers Compensation Insurance, the cover applies 24 hours a day, 7 days a week. If necessary, you can arrange for it to apply worldwide.

Why does my business need Group Personal Accident Insurance?

A Group Personal Accident policy can:

Meet the requirements of an enterprise bargaining or collective bargaining agreement

Group Personal Accident Insurance is often required in Enterprise Bargaining Agreements including union-controlled workplaces like construction sites. Some examples being the CFMEU (WA) Union Collective Agreement and United Maritime Workers Union (AMWU).

Provide volunteer workers with cover for injuries

Volunteers are ineligible for Workers Compensation Insurance. Group personal accident cover for voluntary workers is an excellent way to offer some protection.

Attract and retain high-quality employees

Personal Accident Insurance is a practical employment perk. It can be especially valuable for people in jobs where a minor injury can keep the worker off work for an extended period of time.

Minimise productivity loss following an accident

Personal Accident Policies usually offer Return to Work Assistance. This helps injured employees return to work quickly and safely.

Protect your business from financial loss

When you reduce the financial loss your employees face following a work accident, you reduce the likelihood of them suing your business for damages. If they do pursue legal action, the financial loss they can claim will be smaller.

Who is Group Personal Accident Cover for?

All businesses can benefit from Group Personal Accident Insurance. In particular:

Businesses with union insurance requirements. Including:

Site or project specific agreements

Enterprise Bargaining Agreements

Industry-specific agreements

General agreements

Union agreements, for example CFMEU (WA) Union Collective Agreement or AMWU

Industries where workers are vulnerable to major injuries:

Construction

Mining

Oil / Gas / Power

Travel & Transport (especially for staff who need a licence)

Professional Sports

Not-for-profits and any organisation who uses volunteers.

Employers wanting to offer additional protection and benefits to their workforce.

Have any questions?

Get in touch with our team today to discuss appropriate insurance solutions.

What coverage is available?

➤ Weekly Benefit

This is a fixed amount paid to the insured person on a per-week basis following an accident or illness. Your insurance policy will set out the weekly benefit amount and the maximum duration it is payable.

➤ Death and Disablement Benefits

This is a lump sum payable to the insured person (or their estate) following their accidental death or disablement. The payment is compensatory. Your employee receives the full amount, regardless of the financial-losses they incurred.

➤ Return to Work Assistance

Your policy can cover costs associated with helping an injured employee to return to work.

➤ Workers Compensation Top-Up

Claims Examples

Example 1

An employee slips a disc in their back while moving house. The injury requires surgery. They are off work for six weeks. They are limited to light-duties for a further five weeks.

Insurance Response:

The employee receives a Weekly Benefit while they are off work.

When the employee is ready to return to work, the policy covers an occupational therapist (OT.) The OT works with the employer to find suitable light duties.

The OT recommends a standing desk to ease back pain. The insurance covers the cost of the desk and its install.

Example 2

An employee loses their hand in a factory accident. It will be an extended period of time before they are fit to work. They will not be able to return to their pre-injury role, as it requires two hands.

Insurance Response:

The employee receives a lump sum payment for Permanent Partial Disablement.

While the employee is unfit to work, Workers Compensation Insurance covers most of their wage. If a Workers Compensation Top-Up is available under the employer's Group Personal Accident Policy, this will make up the rest.

The worker is able to claim the cost of retraining for a new job.

Example 3

An employee is diagnosed with breast cancer and requires six months off work.

Insurance Response:

The employee receives a Weekly Benefit while they are off work.

The employee receives a lump sum payment under the Trauma Insurance section of their employer's Group Personal Accident Policy.

Why Work with KBI?

1. Full needs assessment

We will work with you to gain a full understanding of your business, and its risks. This can include research into your insurance obligations under a collective bargaining agreement.

2. Multiple quotes

We organise quotes from multiple sources and help you find the option that best suits your needs and budget.

3. Help to submit your application

We will make sure your insurer has the information they need to underwrite your policy.

4. Compliance assistance

Our team will explain your policy obligations to you in plain English so that when a claim occurs, the insurance responds as expected.

5. Claims management

KBI has assisted hundreds of clients with insurance claims. If a claim occurs, we will liaise with you and the insurer to ensure a fair claim outcome for your employee.