2
WEDNESDAY, NOVEMBER 3, 1993
HELD LIABLE
ON INSURANCE COVER, MR LEUNG SAID EMPLOYERS WERE FOR ANY LIABILITIES UNDER THE EMPLOYEES COMPENSATION ORDINANCE AND AT COMMON
IT IS IN THEIR OWN INTEREST TO TAKE OUT INSURANCE FOR EMPLOYEES, FOR OTHERWISE THEY FACE THE LIABILITIES PERSONALLY.
LAW.
COVER
THE
COMPENSATION EMPLOYEES
ASSISTANCE SCHEME
PROVIDE WILL COVERAGE FOR ACCIDENT VICTIMS IN CASES WHERE EMPLOYERS HAVE NOT SOUGHT INSURANCE COVER AND ARE UNABLE TO PAY.
TURNING то THE WAITING TIME FOR INJURY ASSESSMENT AND COMPENSATION, MR LEUNG EXPLAINED THAT IN CASE OF SERIOUS ACCIDENTS, VICTIMS HAD TO BE GIVEN TIME TO RECOVER BEFORE THE EXTENT OF PERMANENT INJURY COULD BE ACCURATELY ASSESSED.
OF
"THIS WILL HAVE TO BE THE CASE IRRESPECTIVE INSURANCE SCHEME IS ADMINISTERED CENTRALLY OR BY PRIVATE HE STATED.
WHETHER
THE
COMPANIES,
11
PAYMENTS
"FOR THESE CASES, EMPLOYEES ARE ENTITLED TO PERIODIC OF TWO-THIRDS OF THEIR MONTHLY SALARIES WHILE ON SICK LEAVE.
FOR
"WHERE EMPLOYERS FAIL TO MAKE SUCH PAYMENTS, THE SPECIAL
CATER FUND THAT WE
HAVE SET UP EARLIER THIS YEAR WOULD SHORT-TERM NEEDS WHILE THE LABOUR DEPARTMENT TAKES ENFORCEMENT AGAINST THE EMPLOYERS.'
77
LOAN THEIR ACTION
MINOR FOR
INTRODUCED PAYMENT OF COMPENSATION,
A
DIRECT
WITH SICK CASES INVOLVING NO PERMANENT INJURY AND LEAVE OF NOT MORE THAN SEVEN DAYS,
ALREADY THE
HAS GOVERNMENT
ΤΟ
UP SETTLEMENT SYSTEM LAST YEAR
SPERD
THE
MEMBERS
MENTIONED ALSO
EXCESSIVE
PROFITS
BY
INSURANCE
THE
AND
IN
COMPANIES. IN THIS RESPECT, MR LEUNG NOTED, THE GOVERNMENT'S ROLE WAS TO ENSURE THAT EMPLOYEES WHO WERE ENTITLED TO COMPENSATION UNDER LAW RECEIVED
THAT WERE DUE TO THEM, THE AMOUNTS ACCORDANCE WITH THE LEGAL ENTITLEMENTS.
ON
TIME
HE ALSO QUOTED STATISTICS TO CLARIFY CONCERNING THE COMPENSATION PAY-OUT TO INSURANCE PREMIUM RATIO.
THE
MISCONCEPTION
IN RESPONSE TO CLAIMS THAT INSURANCE COMPANIES HAVE NO REGARD TO THE INSURANCE RECORDS OF PARTICULAR TRADES OR PARTICULAR COMPANIES, THAT INSURANCE MR LEUNG SAID IT WAS SIMPLY A MATTER OF MARKET LOGIC
WOULD SEEK COMPANIES
THEIR TO MATCH THEIR INSURANCE AND CLAIMS EXPERIENCE
THE
THEIR POTENTIAL RISKS
CLIENTS.
PREMIUM WITH THEY FACE FROM
"INDEED, THE ACCIDENT INSURANCE ASSOCIATION COLLECTS WIDE WIDE CLAIMS STATISTICS AND ADVISES ITS MEMBERS ON A MATTERS, INCLUDING THE PROPER LEVEL OF PREMIUMS IN RESPECT TYPE OF RISKS.
INDUSTRY- RANGE OF OF EACH
"IT MUST BE HIGHLY DOUBTFUL WHETHER A CENTRAL INSURANCE WOULD BE ABLE TO PERFORM BETTER THAN THE MARKET IN THIS REGARD."
AGENCY
ONE
OF
AND WERK
ON THE SUGGESTION TO GROUP ALL COMPENSATION SCHEMES UNDER ROOF, MEMBERS WERE
THAT REMINDED
TWO THE PRESENT
SYSTEMS COMPENSATION WERE BASED ON DIFFERENT CONCEPTS OF LIABILITY OPERATED DIFFERENTLY.
THERE ARE
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