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Need for Workmen compensation insurance – Infographic

Why there is a need for Workmen Compensation insurance? A workmen’s compensation policy is a commercial insurance policy that covers the legal liability of an employer under the Workmen Compensation Act of India, which is monitored by the Ministry of Labour & Employment. Laborers have the highest probability of injuries or death on the worksite […]

How to choose the best insurance provider for purchasing WC policy for labourers?

How to choose the best insurance provider for WC Policy? Workmen or employees are the most valuable assets of any company. The responsibility to provide them with a safe working environment lies with the employer. In this regard, every employer lays down various safety measures. However, accidents at the workplace are unexpected. Accidents may lead […]

Why do I need workmen compensation policy?

Why do I need workmen compensation policy? Workers and employees are always at risk of suffering employment-related hazards during the their employment term. Often labourers have the highest probability of injuries or death on the work site. An organization becomes financially responsible to compensate workers/ or their family members for losses suffered due to: any […]

Implication of Workmen’s compensation Act, 1923 and Factories Act, 1948,on a Business Owner.

Implication of Workmen’s Compensation Act, 1923 and Factories Act, 1948on a Business Owner. Introduction The Factories Act, 1948 and the Workmen’s Compensation Act are based on the idea of improving working conditions. These Acts intends to regulate the health and safety of young persons, women and children employed in the factories. They offer exhaustive coverage […]

10 Things business owners must do to comply with workmen’s compensation act, 1923 & factories act, 1948

10 Things business owners must do to comply with Workmen’s Compensation Act, 1923 &Factories Act, 1948 The Workmen’s Compensation Act 1923 and Factories Act, 1948 protects the interest of the workers and also provides financial liability protection to employers. The Acts intends to improve working conditions and regulates the health and safety of young persons, […]

How does Workmen Compensation benefit an Organisation?

A workmen compensation insurance policy enables an organisation or employer to cover any liability arising due to injury, disability or death of a worker or employee while at work under the Workmen Compensation Act, 1923. It offers legal coverage against liability that may arise during the business. In general, most insurers also cover the claims […]

What are the Statutory Requirements for Workers’ Compensation Insurance?

What are the Statutory Requirements for Workers’ Compensation Insurance? An employer can take the Workers’ Compensation Insurance to get protection against financial uncertainties. It covers the risk of injury, disease and death of an employee at the workplace. Note that buying a workman compensation insurance is not mandatory but paying workers a compensation on injury […]

What is the difference between the WC policy and ESIC?

What is the difference between the WC policy and ESIC? Workers in India have access to various health insurance and social security schemes to safeguard their interests during contingencies. Two of the security benefits offered to workers in India are Workmen Compensation policy and Employee State Insurance. Despite several similarities in terms of benefits, there are […]

Workmen’s Compensation: What you need to know as an Employer

Workmen’s Compensation: What you need to know as an Employer A worker was killed, and four others were injured during a mishap at a private stainless-steel plant in Jaipur. Irrespective of the type or size of your business, employees or workers are the real reason for your success. Therefore, providing a safe and a conducive […]

What are the legal rights of the Company after the loss under Workers Compensation Insurance?

What are the rights of the Company after the loss under Workers Compensation Insurance? The workers’ compensation (WC) insurance policy safeguards organisations from the threat of expensive legal suits and financial liabilities. Employees’ compensation insurance policy is the other name for it. Rights Of Employers Under WC Policy The companies/employers that purchase the insurance policy […]

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Definitioner

Child: Child - means dependent child/children including adopted and step child/children of the Insured Person between Ages two (2) years and eighteen (18) years (twenty-three (23) years if attending as a full time student in an accredited Institution of Higher Learning) who are unmarried, and receive the majority of maintenance and support from the Insured Person
Claim: Claim - means a demand made by You or on Your behalf for payment of Medical Expenses or any other expenses or benefits, as covered under the Policy
Policy: "Policy" means this document of Policy describing the terms and conditions of this contract of insurance, including the company's covering letter to the insured if any, the Schedule attached to and forming part of this Policy, the Insured's Proposer form and any applicable endorsement thereon. The Policy contains details of the scope and extent of cover available to the Insured/Insured Person, the exclusions from the scope of cover and the terms and conditions of the issue of the Policy.
Illness: "Illness" means sickness or disease first diagnosed during the period of insurance for which immediate treatment by a Medical Practitioner is necessary.
Hospitalisation expenses: "Hospitalisation expenses" mean expenses on hospitalization incurred in India for minimum period of 24 hours incurred in India, which are admissible under this Policy. However, this time limit will not apply for specific treatments defined under Day Care treatment taken in a Hospital / Nursing Home.
Family: "Family" means the Insured, his/her lawful spouse and maximum of two dependent children up to the age of 23 years. xii) Arthritis, goutandrheumatism.
Accident: "Accident" means a sudden, unforeseen and unexpected physical event beyond the control of the Insured/Insured Person resulting in bodily injury, caused by external, visible and violent means.