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Hazardous Occupations |
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· Standard rates are quoted in materials
for people having very light occupational risk · Describe your work in some detail when applying for a plan to avoid jeopardizing your cover · Making full declarations assures one of a firm quotation of premium relative to the risk International Medical Insurance and HealthCare Plan companies offer plans to cover basically non-hazardous occupations they consider as "standard" risks. Standard risks fall into two classes titled "One" and "Two". Typical definitions of the two classes used by plan companies are: Class I - Very Light Occupational Hazards: Professional and mercantile occupational classes not superintending or engaging in manual labor, that is, persons generally engaged in professional, administrative, managerial and clerical positions. Class II - Light Occupational Hazards: Superintending but not engaging in manual labor but engaging in wholesale or retail trade and those involved in frequent travelling in connection with professional or business purposes. When applying for a plan you will be required to state your occupation. Many plan companies are modifying their plan application form to ask applicants to describe their duties or work in some detail. This allows the plan company to ascertain if the described occupation is a Class One or Two and if not, whether an additional premium loading must be added to standard premium normally charged. Many applicants unfortunately rush through the application and only note a single word or title for describing their occupation. The problem is that if they have indeed above standard occupational exposures in their work and have failed to disclose such, future claims can be denied. Therefore it is quite important to describe one's work in some detail for plan underwriting purposes. Someone once said "All Risks are Insurable for a Price". This is also true for Class three occupations and above which are more hazardous than standard risks. Common sense dictates to us that risks are greater for some occupations in energy, mining, aviation, shipping, construction, manufacturing, security, racing, chemicals and a host of others. To eliminate any doubt when applying for a plan, describe carefully and honestly your duties at work for the underwriter/s to consider. Remember, once enrolled in a plan do not fail to notify your company of a significant change in your occupation that obviously increases or decreases your class of risk so that an adjustment to your plan documents can be made. Remember, if you are in doubt then provide more information. Above all, avoid being accused of failing to disclose or declare known pertinent information on any HealthCare application form. It can affect your protection. |
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OMNI is an active member of: American Chamber, Canadian Chamber, European
Chamber, Australian-New Zealand Chamber, Lighthouse Club, Le Club, British Business Association. |
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