Workmen’s Compensation Insurance

The Workmen’s Compensation Decree No. 17 of 1987 requires every employer of labour to take out Workmen’s Compensation Insurance, to cover their Legal Liability for the death or injury sustained by employees while in the course of their employment.

Apart from being compulsory, the benefits offered are very reasonable.

Benefits
Death 42 Months Earnings
Permanent Disability 54 Months Salary
Medical Reasonable but Unlimited
Temporary Disability Payable for 24 Months
Full Basic salary for first 6 Months
Half salary for next 3 Months
¼ salary for remaining 15 Months

To enable us to compute the premium payable and also proceed on issuing you cover, kindly furnish us with the categories and number of employees to be covered together with their Estimated Annual Earnings.

Since cover provided by workmen’s compensation is limited to death and/or bodily injury sustained during working hours only, we wish to recommend that this be complemented by a Group Personal Accident Insurance. This can be effectively arranged on a non – occupational basis to avoid any overlap in covers. Furthermore, substantial savings in premium can be made on account of the allowable non-occupational Discount off premium chargeable.

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Guinea Insurance has always lived up to its name; consistently one step ahead of the industry in the provision of better and affordable risk management solutions. We are a major player in the provision of first-rate financial risk solutions in the General and Special Risks business underwriting categories. We have established a reputation for exceptional competence in the delivery of customer-centric services and product innovation. With a strong capital base, highly qualified professionals, and modern technology, Guinea Insurance PLC became widely acknowledged for speed and efficiency and thus, remained the preferred insurer for individual and corporate clientele seeking premium insurance and related financial services to date.

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Guinea Insurance House
33 Ikorodu Road Jibowu, Lagos.

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