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This is for Ugandan business owners and corporate decision-makers who are weighing the importance and benefits of Workers’ Compensation Insurance for their companies.
We’ll demystify workers comp, exploring what it entails, the coverage GoldStar offers, and why it’s an essential safeguard in the corporate world.
Workers Compensation Insurance, also known as workmans comp, is a critical form of commercial insurance that guarantees immediate financial support to employees who are injured or become ill because of their jobs.
It’s a legal requirement in many countries, Uganda inclusive, and is a pillar of support for the employer-employee relationship.
In Uganda, employers must provide compensation for their employees’ work-related injuries or illnesses, regardless of who was at fault, without the need for the employee to sue.
This framework is designed to provide swift and fair relief and protect both workers and employers in the event of work related accidents or illnesses.
Workers compensation insurance is a safety net for both the business and its employees.
It covers the costs associated with work-related injuries and illnesses, from medical expenses to lost wages.
By having this workers compensation coverage in place, you can protect your employees and your business from financial hardship.
Here we outline what the GoldStar Workers Compensation Insurance Policy covers:
Our workers compensation policy covers medical costs should your employees suffer from an injury or illness while they are on duty.
It also compensates for the injured employee’s missed wages, ensuring that they can focus on recovery without worrying about their income.
In the event of a severe injury, the workmen insurance policy provides the necessary ongoing care for the injured employee, showing your commitment to their wellbeing.
The policy doesn’t just stop at medical coverage. In case an employee decides to sue your company due to the injury, the policy covers all your legal costs, making sure no unexpected litigation expenses disrupt your business operations.
If an unfortunate event leads to the death of an employee due to work-related incidents, this policy takes care of funeral costs and provides death benefits, giving them the dignity they deserve.
Invest in the GoldStar Workers Compensation Insurance policy today; invest in the safety, morale, and productivity of your workforce.
The GoldStar Workers Compensation Insurance policy might be the ideal solution for you. Not only does it cover standard workers’ compensation claims, but it also allows you to customize your coverage according to your preference.
In this uncertain global environment, an optional extra you can choose is the Political Violence and Terrorism coverage.
This add-on provides your business coverage against instances of political violence and terrorism, offering you an extra layer of security.
Remember, these add-ons are designed to craft a policy that suits your business needs. However, it’s important to note that these optional extras come at an additional cost.
GoldStar’s Workers Compensation Insurance policy can provide your business with essential protection against many unforeseen events.
Goldstar is one of the best workers compensation insurance companies in Uganda. We are here to ensure that you can concentrate on your business operations knowing your workforce is safeguarded.
In order to make an informed decision about choosing GoldStar’s Contractors All Risk Insurance, take a look at the Key Considerations to note and the Exclusions that apply to this policy.
This Insurance provides a comprehensive coverage for all expenses associated with accidents up to an agreed limit. In case of the accidental death of the insured,
D&O insurance policies offer liability cover for company managers to protect them from claims which may arise from the decisions and actions taken.
The law imposes on trustees a number of duties that they must carry out using the care, skill and diligence that a prudent person of business would exercise.
You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.
Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.
Additional charges will apply and in certain circumstances this cover might not be available.
Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.
In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.
An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.
No matter what your worry is, we’re here to help explain the process, assess your claim fairly and minimize the disruption to you with a transparent claims process.
Read More...We have a number of options to help you make a claim quickly and effectively. Contact our dedicated claims team for advice on an incident/claim.
Read More...Goldstar Insurance was IFM’s Best Insurance Company in Uganda (2015) and has over the years consistently maintained a Global A+ Credit Rating
Read More...Have any Question? Ask us anything, we’d love to answer!