Understanding Group Accident Insurance: Coverage, Benefits and Importance

Many organizations have liability insurance. However, oftentimes, these policies only apply if negligence on the part of the organization or business has been established. Additionally, general liability insurance can come with a deductible that must be paid before coverage begins. Employees may be covered under workers’ compensation, but participants, such as students, athletes and volunteers, might not be covered. In this case, group accident coverage can be especially beneficial to your clients.

What Is Group Accident Insurance and How Is It Different?

Group accident insurance is a policy that can provide financial coverage for expenses incurred from an injury to a student, athlete, fan, volunteer or an event participant. This type of policy can apply regardless of fault.

What Kind of Businesses and Organizations Can Benefit From Group Accident Insurance?

Many types of companies and organizations can benefit from a group accident policy. These can include the following:

• Schools at all Levels
• Daycares
• Camps
• Sports teams and organizations
• Gyms
• Nonprofits
• Extracurricular centers

Who Does a Group Accident Insurance Policy Cover?

Group accident insurance can cover the expenses for injuries to individuals not normally covered under other types of insurance. These can include the following:

• Athletes and fans
• Coaches
• Volunteers
• Chaperones
• Students
• Participants

What Type of Injuries Are Covered?

A wide variety of injuries may be covered under group accident policies, including the following:

• Sprains
• Breaks
• Concussions
• Cuts/Abrasions
• Burns

Where Does Coverage Apply?

Group accident insurance can be effective in a wide variety of activities, including the following:

• Practices
• Games
• Tournaments
• Travel for events
• Events

How Can Organizations Benefit From Group Accident Coverage?

Group accident coverage can offer the following benefits for organizations:

• Can add an extra layer of financial protection
• Can offer assistance for students who may not have health insurance
• No required deductibles or copays (first dollar coverage)
• Determination of negligence is not required for coverage to apply.

Why Consider Offering Great American’s Accident & Health Coverage?

When insurance professionals offer their clients group accident insurance policies from Great American’s Accident & Health Division (pomi), it can help them achieve the following:

• Provide possible financial protection for clients
• Demonstrate expertise and strategic thinking in understanding clients’ needs
• Strengthen client relationships and build new client relationships with prospects
• Build on industry-specific expertise with the reputation and financial strength of Great American Insurance Company

To learn more about how the Accident & Health Division (pomi) can help you grow and strengthen your client relationships, email us at [email protected] or visit getpomi.com.