Both Employees and Employers Can Look Forward to All-inclusive Insurance Coverage at the Workplace
Injuries while working can be prevented with better safety practice. Accidents will always happen, and injured employees should receive compensation from their employers. Some organisation are efficient at providing benefit to injured employees. Some organisation may lack the appropriate knowledge in handling and paying out proper compensation to injured employees. There are even organisations that require adequate safety measures at workplaces that eventually cause injuries to employees. These are some of the examples of why the work injury compensation act (WICA) will be amended. It is to create a better workplace for all, employees and employers across all industries.
Employees coming to work for an organisation would expect a safe and healthy work environment. Although employees are reminded to take care of the personal workspace, accidents can still happen. Hence, employees sustaining injuries during work or related to work should be protected comprehensively. As a result, the work injury compensation is being reviewed to make way for proposed changes. Among the proposed changes for employee benefits include an increase of the minimum and maximum limit for pay out, extend compulsory insurance to non-manual employees and proper assessment of work injuries.
Employers, on the other hand, will not be left on their own. Under the review of work injury compensation, a proper licensing framework is in the works. This is to designate work injury compensation insurers to offer approved WICA compliant insurance. The structure will also impose requirements, directions and conditions to ensure smooth and fair processing of claims. The review will look into the core set of policy terms and conditions in WICA compliant policies. Thus, employers can fulfil their obligations to purchase such insurance policies. Employers are further protected as the proposed changes will also include fines to any person offering fake WICA insurance policies.
Faster Claims Processing
The work injury compensation review will look into expediting claims processing. As long as all information regarding the accident and injury is correct and accurate, claims processing should be a breeze. Injured employees can hopefully expect a compensation pay out six months after the accident date. On a relevant note, the insurer will immediately process claims for fatal or permanent incapacity.
Deterrent Against Fraud or Error
Sometimes people try their luck at obtaining or avoiding compensation by deceiving others. Under the proposed changes, such persons found guilty will face stricter penalties. Both employees and employers will face the maximum fine or imprisonment or both if found guilty of such affairs. On a similar note, any person that receives compensation through the error of information will have to pay back to the person that paid the compensation.
The work injury compensation act will be amended to ensure comprehensive protection for employees and employers. The security encompasses increased compensation limits for injured employees and adequate insurance coverage, appropriate premium pricing & assurance against false claims for employers. These proposed changes are among the most common feedback received from the public and tripartite partners. As a result, everyone can look forward to a safe and healthy workplace when the proposed changes get a green light.