WIBA means Work Injury Benefits Act. The WIBA Act of Kenya provides for compensation for work related injuries and diseases contracted in the course of employment.
The WIBA Insurance policy allows employers to insure these risks by paying a premium to the insurance company and in case of death of an employee for example, the legal representative of the deceased employee will be compensated by the insurance company subject to the WIBA Act.
There is a specified limit of liability i.e. the maximum amount you can be paid in case of an injury or disease. These limits are usually pegged on your annual salary and the maximum payout according to the WIBA Act is usually 8 times your annual salary.
In addition to the above, the policy also covers medical expenses resulting from accidents and diseases that qualify for compensation. Most insurers extend the cover to cater for funeral expenses as a result of an accident or disease.
However, this policy does not cover the following;
- Injuries occurring outside work
- Injuries caused by war or terrorism
The WIBA Insurance policy is a must have for any employer doing business in Kenya as it assists with compliance with the WIBA act.
If you have any questions on WIBA Insurance, please get in touch with us: email:info@hillspangroup.com
