Liability insurance provides protection to insured in various legal situations. This insurance is specifically for protection against Individual or Professional mishaps.
Situations where insured are called to the courts of law due to acts they themselves, their family members or their employees could have done negligently or otherwise and which may have caused bodily injuries or deaths to other people or damage to property of others.
Workers are an irreplaceable investment to any organization. Providing protection for the employees is a matter not only of protecting the organizational asset but also of moral importance. Governments across the world enforce the issue of providing not only good working environments but also protection to the workers for the uncertainties. YEMEN also enforces this issue and endorses it by having specific laws to cater for and deal with workers accidental disputes.
At Trust Yemen Insurance and Reinsurance Company, we offer workmen's Compensation Policy which will indemnify your Company against all sums for which your company will be liable under the Yemeni Labor Law No. 5 of 1995 and subsequent amendments to pay compensation to any employee in your immediate service due to accident arising out of and in the course of his employment.
Some of the standard extensions to this insurance are:
Employer's Liability up USD 100,000 any one accident &/or in the aggregate (Higher limits can be requested at additional premium).
The rate chargeable is always applied on the Estimated Annual Wages of the employees, which is adjusted at the end of the policy period. This is very dependent to the nature of work, risk involved cover/extensions requested. There is a day Deductible and various Conditions attached to the policy.