Occupational Accidental Death & Dismemberment Coverage
Many employers self-insure worker’s compensation insurance as they are able to predict workplace illnesses and injuries. However it is almost impossible to predict a catastrophic workplace accident which may result in the fatality of several employees. A solution for this risk would be for Employers to implement an Occupational Accident program.
- Provides Accidental Death and Dismemberment Insurance for employees while performing their normal work duties whether on or off premises.
- Purpose of this coverage is to ensure the policyholder will not sustain the risk of a catastrophic event
- *Indemnifies the policyholder’s self-insured retention (SIR) from their Workers Compensation Program
- Policyholder is the beneficiary of all payable claims depending on the carrier’s filings.
- Principal Sums limits range from $25,000 to $500,000 not to exceed the SIR amount.
*Availability may vary from carrier to carrier depending on the employer location.
Cost for this coverage would be based on the nature of the policyholder’s business, employee occupations and claims experience.
For employers with existing Occupational AD&D programs, we would need the following to offer a quotation:
- Copy of their Current Policy if applicable
- Claims History
- Census including occupations