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Protect your employees and meet your legal requirements as an employer

Contact MSIG
Cheque Processing

Protect your employees and meet your legal requirements as an employer

Employees’ Compensation Insurance

Meet your legal obligation as an employer to give your employees compensation insurance

Benefits

According to “Employees’ Compensation Ordinance, Chapter 282”, an employer should compensate his employees who sustained injuries during the course of employment:

 

In cases of / items
 

Compensation amount
-Death under 40：84 months’ earnings or minimum amount of compensation, whichever is higher
40 to under 56：60 months’ earnings or minimum amount of compensation, whichever is higher
56 or above：36 months’ earnings or minimum amount of compensation, whichever is higher
-In cases of permanent total incapacity under 40：96 months’ earnings or minimum amount of compensation, whichever is higher
40 to under 56：72 months’ earnings or minimum amount of compensation, whichever is higher
56 or above：48 months’ earnings or minimum amount of compensation, whichever is higher
-In cases of permanent partial incapacity Amount of compensation due to permanent total incapacity X Percentage of permanent loss of earning capacity
-Sick leave (in case of temporary incapacity) (Monthly earnings at the time of the accident – Monthly earnings after the accident）x 4/5
-Medical expenses Amount payable by employer under “The Employees’ Compensation Ordinance”
-Legal liability for additional compensation
-The covers also extend to cover the legal liability for additional compensation in cases of work injury or death due to employers’ negligence.

 
Eligibility

Company is registered and operating in Hong Kong

Important notes

1.All employers must report correct salaries / wages and other earnings information of their employees to the insurers, in order to comply with the Employees’ Compensation Ordinance (ECO), Chapter 282, and to ensure full indemnification to meet their liabilities to the employees for accidents arising out of and in the course of employment.

2.Employers are reminded that according to the Limit of Indemnity Clause & Insurance Premium Clause contained in the employees’ compensation insurance policy, under-reporting of earnings / wages may result in reduced claim payment for accidents to the employees of which employers are liable themselves. Furthermore, an employer failing to insure in accordance with Section 40(1) of the ECO (Chapter 282) shall be guilty of an offence and shall be liable on conviction to a maximum fine of HK$100,000 and imprisonment for two years.

3.Description of Occupations: each category of occupation is to be shown separately, e.g. Clerical Staff, Sales / Marketing Staff, Messenger, Lorry Driver, Welder, etc.

4.Total Earnings [as more fully defined under Section 3 of the Employees’ Compensation Ordinance (Chapter 282)]: Please declare the estimated / actual total gross earnings for the period of insurance.

5.You are required to complete the Declaration of Earnings section duly signed by an authorized officer and submit it to MSIG together with proof of wages / Monthly MPF Contribution Statements from latest months (stating the occupation of each employee).

6.The above information is intended as a general summary. It is for reference only and is not an offer for subscription of any insurance product. The policy may contain terms and conditions which are not detailed in the above. Should there be any discrepancy between the information contained in the above and the terms of the policy, the terms of the policy shall prevail. For exact terms and conditions and details of the exclusions, please refer to the relevant policy or contact MSIG.

7.The Insurance Authority (“IA”) has announced the collection of levy on insurance premium under the ‘Insurance Ordinance’ with effect from 1 January 2018. As a result, all premium amounts shown in this webpage are subject to levy. For further information, please visit www.ia.org.hk/en/levy.

General exclusion

1.Any liability of the Insured which attaches by virtue of an agreement but which would not have attached in the absence of such agreement

2.Any sum which the Insured would have been entitled to recover from any party but for an agreement between the Insured and such party

3.Any liability arising from Pneumoconiosis or Mesothelioma or Noise-Induced Deafness

The above is a summary of Major Exclusions only. For details, please refer to policy provisions.

Disclaimer and Important Notes

The above plan is underwritten by MSIG Insurance (Hong Kong) Limited (“MSIG”) which is a general insurer authorized and regulated by the Insurance Authority of the HKSAR. Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) is an insurance agent appointed by MSIG. To the extent permissible by law, SCBHK shall not be liable to any person for the use of any of the above information.

The above plan, offered by MSIG, is only available for subscription by residents of the HKSAR, subject to the relevant Terms and Conditions.

The above information is intended as a general summary. It is for reference only and is not an offer for subscription of any insurance product. The policy may contain Terms and Conditions which are not detailed in the above. If there is any discrepancy between the information contained in the above and the Terms of the policy, the Terms of the policy shall prevail. For exact Terms and Conditions and details of the exclusions, please refer to the relevant policy or contact MSIG.

The material and information contained on this Web Site is provided for general information only and should not be used as a basis for making business decisions. Any advice or information received via this Web Site should not be relied upon without consulting primary or more accurate or more up-to-date sources of information or specific professional advice. You are recommended to obtain such professional advice where appropriate.

In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Standard Chartered Bank (Hong Kong) Limited and the customer out of the selling process or processing of the related transaction, Standard Chartered Bank (Hong Kong) Limited will enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the contractual terms of the product should be resolved directly between MSIG and the customer.