Employer's liability insurance
is taken out on a voluntary basis to cover any sums, which the insured in their capacity as employer is liable to pay to any person, who sustained bodily injury or death in the course of the performance of his/her professional obligations.
Under the present insurance Armeec Insurance JSC will pay compensation in respect of:
- Any sums, which the insured will be liable to pay in accordance with the Labour Code to their workers and employees as compensation for bodily injury and/or death as a result of an accident at work occurring in the course of performance of his/her professional obligations within the period of insurance;
- Upon agreement between the parties and against payment of an additional premium any damages will be covered (including death, permanent or temporary disability) caused to workers and employees of the insured as a result of an occupational disease, which initially occurred within the policy period and was certified by a report of the expert commission.
- Any reasonable expenses made for prevention and reduction of losses in case of insured occurrence and any other expenses made with the consent of the insurer;
- The interest and expenses adjudicated under a civil action, which totally shall not exceed the agreed limits of indemnity.
The insurance premium is fixed on the basis of the limits of indemnity, the annual payroll, the risk class of the respective type of production, the number and nature of employment accidents in previous years.
In case of a valid claim the insurance indemnity shall be fixed on the basis of an out-of-court agreement between the insured and the injured party, approved by the insurer. If such an agreement is not reached the indemnity will be payable on the basis of an enforced court decision.