WIBA: WHY IT MAKES SENSE
Work Injury Benefits Act – (WIBA ACT) insurance cover provides compensation to employees for work-related injuries and diseases contracted in the course of their employment and for connected purposes.
This policy is a better strategic bet that requires a company to invest a large sum of money which will ultimately, save the company from any bankruptcy threat in the event a large scale risk event happens to the business.
This as provided in In the event that there is an accident that affects a large number of employees such as a fire, a road accident, or any other situation that yields a large number of employees eligible for WIBA related compensation, the company can suffer. WIBA pay-outs can be as high as 96 months salary in some cases. While rare, this is a real risk in some work environments.
WIBA provides a number of benefits like; bereavement Compensation, compensation for permanent total disablement, compensation for temporary total / partial disablement, accidental medical expenses, funeral expenses, life’s assistance, occupational Illness.
“We rarely think of safety hazards that could befall us when we are at work as it’s unimaginable that anything out of the ordinary can happen as we carry out our duties. It makes sense then why not many of us are insured should we be involved in an accident within or outside the office,” says Stanely Waweru, Business Development Manager, Resolution Insurance.
He adds that it is a common assumption that accidents only happen to people in the construction sectors or even those in manufacturing companies who interact with heavy machinery and chemicals.
“It is important to correct this way of thinking because accidents happen to people working in offices too. This is what makes WIBA a much-needed cover in today’s world,” Says Stanley.
WIBA is a locally available insurance product which steps in to provide compensation to employees in case of work-related injuries that arise in the course of carrying out their duties whether it’s bodily injuries, disease or death.
WIBA was brought about through a Parliamentary Act titled the Workmen’s Compensation Act which was later changed to the Work Injury Benefits Act in 2007 to cover employers by providing compensation to employees.
What’s great about the WIBA cover is the two products under its umbrella, which are the WIBA cover and WIBA plus Cover. With WIBA you can count on your employee being covered in the event of an accident or a bodily injury, while with WIBA Plus you can be sure to compensate your employee and their next of kin should they fall ill or die under unforeseen circumstances.
Here are some benefits employees enjoy and are entitled to under the WIBA and WIBA plus Cover:
- Bereavement Compensation: Losing an employee is not easy for any employer if anything it is a dreadful process for the next of kin. With the WIBA plus cover, however, planning the funeral becomes less of a burden for the relatives and the employer due to the lessened financial burden.
- Occupational Illness. Dependent on the nature of the business, some employees who are constantly exposed to chemicals and heavy-duty machinery on a daily basis are more prone to experience illnesses related to their daily duties.
- Total or partial disablement.As a result of a work-related injury, an employee may be left with a total or partial disability or impairment. WIBA cover is tailor-made to cater for these situations where hospital bills as well as managing the condition.
- Accidental Medical Expenses. When accidents happen many unplanned expenses arise and might feel overwhelming especially. The accidental medical expenses cover is purposely suited for such instances where the medical bills become escalated and cannot be catered for by an individual.
- Artificial Appliances. The victims of the accidents many times are left impaired in one form or another leaving the affected in need of an artificial appliance. These artificial appliances are expensive to purchase and that is why WIBA has the Artificial Appliances benefit to assist in obtaining these appliances.
These are but a few of the benefits that come with WIBA cover, thus ensuring employers can relax and focus solely on running their organizations.[/vc_column_text][/vc_column][/vc_row]