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Workmen Compensation

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DESCRIPTION
NO. OF EMPLOYEES
AVERAGE MONTHLY SALARY
Office Staff
Labor and Factory Workers
Delivery Staff
CATEGORY
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Advantages of Workmen Compensation Insurance

Comprehensive Cover
Our workers compensation policy covers legal liability under the Workmen Compensation Act (WCA) of 1923 with subsequent amendments, Fatal Accident Act, 1855 and common law. Our comprehensive plan provides cover for medical expenditure, occupational and compressed air disease as well.
Universally Accepted
Our worker compensation policy meets your contractual requirements. It is also recognized by customers, suppliers, regulatory authorities, external agencies and international companies. In terms of risk locations, pan India coverage is applicable under our workers comp insurance plan.
Covers Unforeseeable Events
Our workmen compensation policy provides coverage against unforeseeable events such as disabilities due to workplace injuries, occupational ailments in course of employment, medical treatment for the injuries, lost wages, lawsuits (defence costs), terrorism and accidental death.
Industry Specific
We provide industry specific coverages as the cover and risks vary considerably by industry. Generally the risks are highest in manufacturing and industrial businesses. We make sure the insured properly understands the risk and occupation classification before buying the insurance.

Benefits of Workmen Compensation Insurance

Cover for Medical Expenditure

  • Workmen compensation policy covers medical expenses from injuries arising from accidents during employment
  • Medical expenditure could be incurred either during hospitalization or on out patient basis
  • Choose one of three options for sub-limit from the calculator i.e., Rs 10000, 25000 and 50000.

Legal Liability

  • Workers compensation policy covers employer's legal liability from an accident to a worker, during the working hours in office premises
  • Policy pays the legal compensation decided by the local labour commissioner or court
  • Defence costs arising out of lawsuits filed in the labor court are also covered.

Cover for Occupational Diseases

  • Workmen compensation policy covers diseases & illnesses caused due to prolong exposure to occupational hazards specific to the employer's industry
  • Compressed air diseases could be selected as an additional benefit under the policy
  • Sample diseases that are covered include Bagassosis, Bronchopulmonary and Pneumoconioses

FAQs

The workmen compensation policy cover legal liability to all the employees under W.C. Act 1923, the Fatal Accidents Act, 1855 and at Common Law. The legal liability arising out of death or disability during the course of employment will be covered. Additionally, workers compensation policy also covers the medical expenses for the treatment of an injury sustained by the workmen due to any accident during the employment. This policy is now also known as Employee Compensation policy.

Worker compensation policy does not cover any employee who is not a "workman within meaning of the Law(s)", any injury or an accident directly attributable to civil war, mutiny, insurrection and nuclear risk, insured's liability to employees of contractor to the insured, any liability of the insured which attaches by virtue of an agreement, any compensation for diseases mentioned in Part 'C' of Workmen's Compensation Act‐ 1923, unless specifically covered as an add-on

Any injury or an accident leading to death of the worker during the course of employment is a fatal accident. Whereas, any injury or accident resulting in partial or permanent physical disablement such as loss of limb, loss of sight or hearing is defined as non-fatal accidents. Fatal Accidents Act 1855 is a law which provides a suit for compensation for such losses and which is covered under workmen compensation policy.

Ailments that are contracted due to the nature of work is termed as occupational diseases. Occupational diseases such as allergies, lung disease, heart disease etc are generally not covered by default under workmen compensation policy. Diseases covered include Pneumoconioses caused by sclerogenic mineral dust and silico-tuberculosis if silicosis is an essential factor in causing the resultant incapacity or death, Bagassosis, Bronchopulmonary diseases caused by cotton, flax hemp and sisal dust (Byssinosis), and Acute Pulmonary Oedema of High Altitude.

Premium for a workmen compensation insurance is based upon multiple factors such as employer's industry classification, nature of work, number of workers, duration of the contract in case it is a contractual requirement and salary/wages of the employees/workers. Risk location, safety standards and past claim experiences are also key factors for determining the premium rates under worker compensation insurance.

No. An employee/worker is not required to pay or contribute to the workmen compensation policy. Only the employer needs to buy the workmen compensation policy because as per the Workmen Compensation Act 1923,Fatal Accident Act,1855 and common law an employer is responsible to compensate for any accident which result in death, injury or disability to an employee/worker during the course of their employment.

Premium payment under workmen compensation can be done through cheque, net banking and NEFT transfer. If you want to start the coverage immediately visit the calculator section on our website, enter the details of number of workers, policy duration, location and occupation. After choosing the final option and insurance company just proceed to make the payment to the selected insurance company. Coverage will be effective immediately on realization of payment, if the risk is accepted by the insurer.

Workmen compensation policy is bought for a year in case of a fixed setup such as manufacturing and also bought by the contractors for the limited period for the contractual projects. In both cases, premium will change subject to various factors such claim history, number of workers, type of occupation, location, duration of the project. It is better to go for an annual policy as it beneficial in terms of inconvenience and cost.

In case of an accident at the work site, employer should immediately inform the insurer about the incident and also intimate the local labour authority of the area. Next step is to submit the required documents such as claim form, medical reports, compensation records to the insurer. During any claim, our claim team will guide you throughout the entire process starting from claim intimation to document submission till claim gets passed.

Yes. Workmen Compensation policy covers both statutory liabilities and legal liabilities under common law. If an employee files a claim for accidental death and disability at workplace in a civil court, then any compensation awarded by the court will be paid under the Worker Compensation Insurance policy.

Under workmen compensation policy, apart from standard exclusions mentioned in the policy, insurer may reject a claim on various grounds such as if claim is not reported to the insurer within stipulated time, failing to submit all the necessary documents, submitting a claim pertaining to a period before the policy inception date, non-disclosure of known issues such as safety measures and declaring wrong occupation.

Yes, an employee can sue the employer for injury arises out of an accident at workplace. If an employer has a workmen compensation insurance then policy would cover the legal defence cost. Policy would also pay the compensation decided by the court and the local authority which generally consists of cost of lost wages, medical expenses arising out of injuries or disabilities, and other related costs.

All kind of industries need workmen compensation insurance for their workers & employees but reasons to buy could be different for every industry. Industries which involve high labour intensive work such as construction, mining, transportation & logistics, needs the most as risk of an accident or mishappening during the work is high. Then there are industries such as IT, human resource consulting buys the WC policy to comply with contractual and legal requirements.

The Workmen‘s Compensation Act is a law, established in 1923, which aims to provide workmen, a compensation in case of an injury caused by an accident arising out of and in the course of his employment and in case if a workman employed in any employment contracts any disease, specified in the Act as an occupational disease peculiar to that employment. Due to the Act, an employer is required to buy a workmen compensation policy.

Workmen compensation policy offers various layer of protection to an employer such as it covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by the workmen arising out of and in course of employment as per Workmen Compensation Act 1923. Also, an employer can claim the premium paid for the worker compensation policy as a tax deduction.

As an employee you are eligible for a compensation as per W.C. Act 1923 , irrespective of employer has a workmen compensation insurance or not. If you have met the basic criteria as per the Act such as that an injured person should be an official employee or an injury or disability caused to the workmen happened during the course of employment, then an employer is required to compensate an you as per the law.

Insuropedia

What is the Workmen’s Compensation Act?

The Workmen’s Compensation Act offers compensation to workers and their dependents in case of injury or accident that may arise out of and in the course of employment resulting in disability or death.
It helps an employer by covering the legal liability coverage....
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What is covered under Workmen Compensation Insurance Policy?

Workmen compensation insurance is a product designed to insure the employer against their liability towards the workers in case of injury at the workplace.
Workmen Compensation Act:.....
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How Expensive is Workmen Compensation Insurance?

Workmen compensation insurance tariffs are determined based on the valuations of Insurance Information Bureau of India (IIB).
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