Alternatives are needed as the state entity responsible for insurance against work injury is grossly inefficient
Due to the collapse of almost every government service and state-owned enterprise, South Africans perforce are increasingly seeking ways to avoid or replace government services.
It is easy to introduce a private sector workers’ compensation option in addition to the state-provided one because the benefits of workers’ compensation are set out in the relevant legislation: the Compensation for Occupational Injuries & Diseases Act of 1993. Therefore, all that is needed is for private insurers to issue a policy that states that the policy benefits are those prescribed by the relevant statute, or better.
Section 30 must be amended to permit any registered insurer licensed to provide workers’ compensation insurance to offer cover. It then becomes unnecessary to deal any further in the act with the insurer, since all SA insurers are regulated in terms of the Insurance Act. Changing the legislation as proposed will return the workers’ compensation system to its roots, originally designed for cover to be privately provided. During the closing decades of the 1800s the insurance market expanded to include a new class of insurance: accident insurance. The accident market included workers’ compensation. Personal accident policies emerged from these developments. A workers’ compensation policy could just as easily be regarded now as a personal accident policy.
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