Shield your business with employee compensation product insurance

There is only one insurance that is strictly compulsory for any business in Hong Kong: employee compensation.

This insurance is provided through basic and simple packages, which also include property all risks of your office/shop if you get a premise and public liability.

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What is employee compensation product insurance

Employee compensation covers the liability of an employer for injury caused to their employee at work. It is strictly defined by the Employment Ordinance from the Labour Department. It should cover your employees regardless of their contractual relationship with your company (part-time worker, contractor, sub-contractor, freelancers).

What does employee compensation product insurance cover

Employee compensation insurance covers costs incurred when insured employees meet with work-related accidents or diseases, such as:

  • Medical expenses related to the injury
  • 80% of the salary that still must be pay during the Employee medical leaves related to the injury
  • Compensation in case of Death or permanent full or partial disability

Types of business that should get employee compensation product insurance

As stated above, employee compensation product insurance is compulsory for all businesses, and it should include Salary+commission+allowances. At the difference with MPF, employee compensation has absolutely no exception.

Why does employee compensation product insurance matter

Employee compensation product insurance matters because:

  • This is a legal requirement
  • This protects your company and your staff in case of a work injury
  • Not complying with this requirement exposed the directors. An employer who fails to comply with the Ordinance to secure an insurance cover is liable to prosecution and, upon conviction, to a maximum fine of HKD 100,000 and imprisonment for two years

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