Accident and health insurance, also known as casualty insurance, typically covers accidental injury and accidental death. In the event of an accident, benefits will cover medical expenses, preventative services, and, to some extent, catastrophic care. Benefits are paid to named beneficiaries in the event of an accidental death. Accidental death is frequently combined with dismemberment, giving rise to the term “Accidental Death and Dismemberment.” In this case, specific sums are paid to the insured in the event of amputation. The policy specifies the amount paid for each type of dismemberment. Dismemberment of a leg, for example, pays more than dismemberment of a finger.
See Also Accidental Death and Dismemberment
Workplaces with more than ten employees, as well as all factories, are required by law to have an accident book in which employees, or others acting on their behalf, can record details about accidents and work-related illnesses. Entries serve as formal notice to the employer, who may enter his own if he believes the employee’s entry is incorrect. The entries could be used in future claims against the employer. The most recent Accident Book (published by the HSE) complies with the Data Protection Act of 1998. Accidents are recorded, but information about the individuals involved is kept separately and securely.
The total cost of accidents, including those that are not insurable as well as those that are. Large non-insurable costs provide an impetus for loss control.
This is one method for measuring the effectiveness of loss prevention services. The rate of occurrence of accidents, often expressed in terms of the number of accidents over a period of time as well as accident severity.
Insurance against injury, loss, or damage to persons, property, or liability that is not covered by life, fire, or marine insurance.
US MEDICAL: Health insurance that protects a person in the event of an accidental bodily injury. Insurance benefits can help to replace a portion of earned income lost due to disability caused by an accident. Accident insurance may also cover medical expenses and indemnity for death, limb or sight loss as a result of an accident.
Health insurance underwriters use this classification to assess the type and degree of danger represented by a specific occupation, such as fire exposure, use of dangerous machinery, handling of heavy objects, and the risk of falling.
Engineering and inspection services provided by an insurance company or an independent organisation with the goal of removing or reducing dangerous conditions in order to prevent losses.
Accident experience in relation to a base unit of measurement, such as motor vehicle rail/road and aircraft accidents: for example, number of accidents compared to miles operated or passengers carried, ‘number of deaths per 2,000,000 miles travelled,’ and so on. Although an injury rate is more commonly used, occupational accident experience can be expressed as the number of accidents per 100,000 employee-days worked, per 100 employees, or per employee-year (200 working days).
A measure of the seriousness or severity of losses rather than the number of losses. It is calculated in terms of lost work time rather than the number of individual accidents. It is yet another way to assess the efficacy of loss prevention services.