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Employer Insurance

Employer insurance policy

In South Africa, there is a need to look at the worker’s welfare because workers are mostly the economy helpers. They have contributed massively to the growth of South Africa’s economy. They need to be protected. That is why insurance companies have introduced employer insurance. This type of insurance policy will cover employers in case of any financial loss they might experience.

Employee insurance quotes

Workmanship compensation insurance

This can also be seen as an advanced way of workers compensation insurance because it combines with compensation even more than the policies in compensation insurance in case of illness, death, injury and so on.

employer insurance

Mostly in South Africa, workers are covered by the state and federal compensation act. These are the laws laid down to protect the workers in South Africa based on the level of Government they belong to. The states need employers to adopt workers compensation insurance.

Employer insurance cover

In the aspect of medical expenses, the employers’ insurance covers more compared to the worker’s compensation insurance. Employers’ insurance policy is created to cover the lapses of the compensation insurance policy.

Group employees benefits

employers can cover there employees for group employee benefits this includes:

  • Uif
  • medical aid
  • provident fund
  • pension fund

Average business insurance cost in South Africa

When it comes to paying out in case of employer insurance, there are clauses or condition which assists the employer to reduce losses.

  • For an employer who is not well covered by compensation insurance or being sued, the employer insurance can help the person.
  • Workers compensation and employer’s insurance work together but one is more advanced the other.
  • There is a certain limitation of payment made out on each employer, health, or damage.

However, as we all know everything in life has its weak point. Sometimes, claims might be expensive and frustrating for employers especially when it comes to the aspect of the lawsuit. What it will cost in defending cases can result in financial loss.

Department of Labour act South Africa

Employers duty is to register your employees in the department of labour, Protection of employees against discrimination.

  • employees have a right to lodge a complaint to any respective body in there industry if they are discriminated against.
  • Employees have a right to working in a conducive environment ensuring a comfortable safe work space.
  • They can take there matter to the Commission for Conciliation, Mediation and Arbitration (CCMA) if employees feel that they have been unfairly dismissed.

The employees insurance does not cover any criminal activity such as illegal business, fraud and so on.

Business insurance quotation

find your average business insurance cost in South Africa, submit your contact details business insurance specialists will contact you shortly for a quotation and costs of coverage and benefits.

Get commercial insurance solutions online, exclusive range of value-adding benefits when you get business insurance for your essential business.

How pandemic can effect both employers and employees

You as a employer you need sufficient insurance cover for both you and your employees.

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