Nowadays, in order to pass on the employment risk and reduce economic losses, many enterprises have purchased group insurance for employees, among which group accident insurance is the most favored by enterprises, and employer's liability insurance has also attracted much attention recently.
So, what is the difference between group accident insurance and employer's liability insurance?Can I buy both?Next, Daddy will give you a detailed introduction to group accident insurance and employer's liability insurance.
1. What is the difference between group accident insurance and employer's liability insurance?
1. The definitions are different.
Group accident insurance is a form of personal accident insurance that is insured in a group manner. The insurance liability and payment method are the same as those of personal accident insurance.
Employer's liability insurance is based on the insurer's liability for disability, death or other losses caused by accidents or occupational diseases when the employee is engaged in related work during the period of employment.
In simple terms, group accident insurance is life insurance, while employer's liability insurance is liability insurance in property insurance.
2. The policyholders are different.
The insured person of the employer's liability insurance is the employer. An employer purchases employer's liability insurance for his own benefit, and an employee cannot purchase employer's liability insurance for himself or herself and cannot become an insured person of employer's liability insurance.
The employer can buy it for himself, for the employee, or for a third party who has a relationship with him, in which case the employer is the insured;Employees can also purchase for themselves, in which case the employee himself is the insured.
A third party who has a relationship with the insured can also purchase personal accident insurance for the insured, and the third party who has a relationship with the insured is the policyholder.
3. The scope of protection is different.
Group accident insurance covers accidental medical treatment, accidental death, disability, death and disability due to illness (including sudden death), death and disability due to various traffic accidents, accidental hospitalization allowance, critical illness and disability.
Employer's liability insurance covers the death, disability and medical expenses caused by accidents during the work or when the employee is engaged in work-related matters, and the employee suffers from occupational diseases due to work and the resulting employment expenses.
4. The risk of protection is different.
Group accident insurance covers the risk of accidental injury to an employee. Regardless of whether you are at work or not, there is not much difference between buying personal accident insurance and buying it yourself.
Employer's liability insurance is responsible for compensating employees for disability or death during working hours and in the workplace, and the company is legally liable for financial compensation.
5. The insurance beneficiaries are different.
The beneficiary of group accident insurance may designate a third party with whom he has an interest.
If the insured designates a beneficiary, the person nominated is the beneficiary of the insurance if the insured is disabled in the accident;If no beneficiary is designated, the insurance money shall be inherited by the legal heir in the manner of statutory inheritance, and the legal heir shall be the insurance beneficiary.
The beneficiary of employer's liability insurance can only be the employer. If the employer dies before the employee, the employer's legal heirs are the legal heirs of the "employer's liability insurance" compensation after the settlement of the compensation with the employee;
If the employer designates a beneficiary at the time of application, then the nominated person is the beneficiary of the "employer's liability insurance" indemnity.
Since the employee is not insured under the "employer's liability insurance", the employee cannot designate a third party as the beneficiary of the insurance indemnity.
6. The whereabouts of the claim payment.
The compensation of the employer's liability insurance is paid to the enterprise, and the enterprise shall pay it to the employee in accordance with the regulations, and exercise the employer's liability for compensation to the employee in accordance with the law(The control of the claim payment is in the hands of the business owner, and the benefits are self-evident).
The compensation of group accident insurance is paid to the employee, and from a legal point of view, this money cannot be counted as compensation to the employee by the enterprise, and the risk is not completely eliminated. (The business owner has no control over the claim payment, and it is up to the individual employee whether to make any further claims against the company.) ）
2. Can group accident insurance and employer's liability insurance be purchased at the same time?
Judging from the above introduction, employer's liability insurance is more about protecting the responsibilities that enterprises should bear, while group accident insurance is more of an employee welfare nature.
Therefore, whether an enterprise gives employees two types of insurance depends on the company's own situation.
However, in the actual operation, in addition to considering the actual interests of employees, enterprises should also ensure that their employment risks are transferred to the maximum.
3. Summary. At present, there is no legislation in China to enforce employers' liability insurance, but it only stipulates that some industries must purchase group personal accident insurance for employees, such as construction and high-risk industries.
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