The Indian workforce has changed dramatically over the past decade. Where most companies once employed a straightforward mix of permanent staff and a few contract workers, today’s typical mid-sized business might have full-time employees in the office, remote workers operating from home in three different cities, contract staff hired through a labour agency, freelance consultants […]
How WC Insurance Premiums Are Determined?
Every employer who holds a Workmen Compensation policy sees a premium number on their renewal notice. Most accept it, pay it, and move on. Very few ask the question that can genuinely save them money and improve their coverage quality: “How was this number actually arrived at?” WC insurance premium is not arbitrary. It is […]
WC Insurance Pricing
When an employer buys Workmen Compensation Insurance, one of the first questions that comes up is: “Are we paying the right amount?” It is a fair question – and not as easy to answer as it sounds. Unlike many consumer insurance products, where the premium is a flat number, WC insurance pricing is dynamic. It […]
WC Insurance Exclusions
When a factory worker fractures a hand operating a press machine, or a construction labourer falls from scaffolding, the employer’s first thought is typically: “We have workmen compensation insurance – this will be covered.” That assumption is usually correct. But not always. Workmen Compensation Insurance – now formally called Employees’ Compensation Insurance under the Employees’ […]
What is Workmen Compensation Insurance?
Every employer in India who operates with a workforce — whether ten people or ten thousand — carries an obligation that most never think about until something goes wrong: the legal duty to compensate workers who are injured, disabled, or killed because of their work. This obligation is not discretionary. It is enshrined in law, […]
How to File a WC Insurance Claim?
A workplace accident happens in a fraction of a second. Managing its aftermath, however, can take weeks – and if it is handled poorly, it can affect the injured worker’s timely recovery, the employer’s legal standing, and the outcome of the insurance claim. Knowing how to file a claim under WC Insurance, and knowing it […]
What is Occupational Hazard Insurance vs Workers Compensation?
Accidents are inevitable. Proactive measures and occupational safety programs can help to reduce the likelihood of workplace accidents. However, it can be challenging to eliminate the potential risks at the workplace completely. Some of the occupations like construction, firefighters, loggers, miners, etc. are of high-risk nature. Hence, it is imperative to avail of occupational hazard […]
Insure Your Workforce And Reduce Attrition
As per the survey conducted by Deloitte India 2022 related to the Workforce and Increment Trends. India has faced an increase in the average workforce attrition rate from 15.8 percent in 2020 to 19.8 percent in 2021. It was fueled by various factors, such as lower salaries, reduced fringe benefits, increased workload, insufficient workforce insurance, […]
Promoting Safety Through Workers’ Compensation
Workplace safety is a crucial thing for both employees and employers. A safe work environment is important to avoid accidents, illnesses, and injuries at the workplace. Workers’ Compensation is a vital safety net that provides financial support to employees who are injured or become ill while on the job. Workplace safety can help employers to […]
Employers’ Liability Insurance Versus Workers Compensation Policy
Every business needs to plan risk management strategies for long-term growth. The right liability insurance and business insurance policies are crucial to an organisation’s risk management and other internal measures to reduce risk. Businesses need to first understand the types of policies available and how Employers’ Liability Insurance Versus Workers Compensation Policy are relevant to […]