Study Employees' Compensation Insurance in Hong Kong
Essay by Work Home • November 5, 2015 • Coursework • 478 Words (2 Pages) • 1,116 Views
Introduction (1)
What is Employees’ Compensation Insurance?
Who is insured party in Employees’ Compensation Insurance?
Introduction (2)
Hong Kong
Chapter 282 Employee’s Compensation Ordinance
No employer shall employ any employee in any employment unless there is in force in relation to such employee a policy of insurance
A principal contractor may take out a policy of insurance in respect of the liability of principal contractor and his sub-contractor
A group of companies may take out a policy of insurance in respect of the liabilities of companies, bodies corporate and corporations in the group
Introduction (3)
Hong Kong
Chapter 282 Employee’s Compensation Ordinance
Policy Limit of Indemnity
$100 million per event
Employees does not exceed 200
$200 million per event
Employees exceeds 200
A principal contractor takes out a policy of insurance
A group of companies takes out a policy of insurance
Content for Employees’ Compensation Insurance Policy
Schedule
General Conditions
Special Endorsement
Exclusion Clause
Notice of Insurance
Evidence for Insurance Premium being paid, e.g, premium receipt
Undertaking letter for notification to the insured on termination of Insurance Policy (optional)
Claim Procedure
Types of Employees’ Compensation Insurance Policy
Annual Basis
State no. of employees and their earnings
Renew annually
Project Basis
State project sum, location, insured period
Renew when the project has not yet been completed
Areas concerned in Employees Compensation Insurance (1)
Insured Name
Insured Period
Insured Location
Responsibility
Special Endorsement and Exclusion
Insurance Company
Limit of Indemnity
Premium paid
Project Details
Areas concerned in Employees Compensation Insurance (2)
Insured Name
Joint Name Insured
(with Employer, Main Contractor, Sub-Contractor, Sub-Cub-Contractors or any statutory body)
Areas concerned in Employees Compensation Insurance (3)
Insured Period
Cover Construction Period plus Defects Liability Period
Areas concerned in Employees Compensation Insurance (4)
Insured Location
Specified site location (project basis)
No specified site location but with geographical area (annual basis)
Areas concerned in Employees Compensation Insurance (5)
Responsibility
Check Conditions of
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