Employees are the backbone of any business. Irrespective of business size, it’s important to safeguard the health, safety, and welfare of employees. Inadequate employee care and lack of compensation in the event of mishaps may lead to litigation against the business. The Workmen Compensation Act, 1923 was enacted under the Ministry of Labour to eliminate […]
What Are the Different Types of Medical Expenses Covered Under A Workmen Compensation Policy?
Medical expenses cover can be included as an add-on in a workmen’s compensation insurance policy. Different insurers define the limit of medical benefits differently. Some of these options are: A fixed sum (per case) daily, for the duration of hospitalization The actual amount spent up to the total sum insured as defined at the time […]
In a Workmen’s Compensation policy, what is the difference between fatal and non-fatal accidents?
The law prescribes all organizations employing workmen for their business operations have a workmen’s compensation policy. It is an employer’s legal responsibility to protect their workmen against physical injuries or death suffered during the course of employment. In case the employee faces death, disablement, or injury due to the nature of his/her work, the employer […]
What are the conditions in workmen compensation policy?
The statutes of the Workmen’s Compensation Act, 1923 make it mandatory for all employers to have a workmen’s compensation policy to protect their employees. The workmen’s compensation policy covers the legal liability faced by an employer if the employee dies or becomes disabled during the course of employment. In case of any employment-related injury or […]
What Is Not Covered in Worker Compensation Policy?
A worker compensation policy cannot be purchased by an employer who is not recognized under the Workmen Compensation Act 1923. In other words, an employer or an employee who does not qualify under the official status of the Act is not under the insurance jurisdiction. In this article, we will find out what is not […]
Will workers receive workmen compensation benefits if the injury was their own fault?
An employer buys a workmen compensation policy to compensate the employees/workmen and their dependant families for the loss of income caused due to workplace injury or death. The Workmen Compensation Act, 1923 offers employees compensation to cover their wage loss arising due to unforeseen perils of employment. The employer is legally liable to compensate the […]
What are 4 Work-Related Hazards and how to shield them?
For all employers, maintaining the health and well-being of the hired workforce is a significant concern. They want to ensure that all the employees feel safe and secure when they are at the workplace. It is for this reason that all the newly built office complexes are designed as per safety standards. However, certain work-related […]
3 Things Related to Workmen Compensation Insurance Policy You Might Not Know
Workers’ compensation insurance not only covers medical expenditure arising out of workplace accidents but defense costs as well. Here are a few things about worker’s compensation benefits that you might not know.
What is Workers Compensation and how does it work?
The Workmen’s Compensation Act, 1923 makes it mandatory for an employer to compensate the worker and/or the worker’s family in case the worker dies, becomes injured, or suffers a disability during the course of his/her employment. If the worker suffers from any physical disability due to the nature of his employment. Then the employer becomes […]
What are the major exclusions under Workmen Compensation Policy?
A Workmen’s Compensation Policy provides financial protection to the employer in case the employee suffers an injury, death, or disability during the course of employment. The employer is liable to compensate the employee when he/she suffers an injury during the course of the employment. A Workmen’s Compensation Policy takes care of this financial liability faced […]