What Is Employees' Compensation Insurance

What Is Employee Compensation Insurance?

Insuring the Employee compensation (EC) is not just a legal obligation; it is a vital measure for shielding the business from the financial implications of employee accidents. The shock of these unforeseen costs could cast your company to a financial ruin. With an Employee Compensation Insurance (ECI) that is part of our comprehensive loss prevention and control services. The insurance company not only protects your business but also reduces the risk of employee injuries and assists in their recovery if unforeseen circumstances happen.

ECI comply with the requirements of the Employees’ Compensation Ordinance in Hong Kong and we have been providing customized products for captives and other risk management strategies, for individual accounts.

Who Is Employee Compensation Insurance For?

It is a requirement for every employer to carry out compensation insurance for their employees. For the purpose of fulfilling the statutory requirement, Employees’ Compensation insurance covers your liabilities as an employer, which fall under the Employees’ Compensation Ordinance and at Common Law.

What Is Covered Under Employee Compensation Insurance?

As mentioned in Employees’ Compensation Ordinance it covers any employee who died or got injured due to an accident or disease within the workplace or in the process of work for the employer’s business operations. It applies to all the enterprises that employ staff working in Hong Kong or elsewhere. 

How FastLane Group Can Help?

FastLane Group offers comprehensive solutions for corporate services to employers who want to secure their business and protect their employees. Safeguard your company’s financial health and ensure compliance with statutory requirements. Contact us today to find the right insurance plan for your employees and your business.