Occupational Accident Insurance Features
Employer’s Indemnity – All reasonable amounts paid by insured to obtain release of liability to settle a claim or pay a judgment including pain and suffering and punitive damages.
Duty to Defend – Defense costs for covered claims are paid by the carrier. These costs do not erode the insured’s policy limits.
Benefit Limit – maximum of $10,000,000 per occurrence
One Life and Up – Minimum premiums apply.
Weekly Disability – 75% of wages from $200 to $700 maximum / 7 day elimination.
Benefit Periods – One, two, or three years
First day Coverage for New Employees – Coverage begins on the first day of employment. Part-time employees are covered.
Occupational Disease – Covers diseases, which arise solely and independently out of the covered person’s scope of employment.
Cumulative Trauma – Covers injuries, which are caused by the combined effect of repetitive physical activities extending over a period of time.
Independent Contractor Endorsement – Covers sub-contractors working for insured
Waiver of Subrogation – Waives carrier’s rights to subrogate against third party.
Alternate Employer Endorsement – Allows additional insureds to be added to policy.
Aircraft Coverage – Covers named insured’s pilot, crew, and passengers.