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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 […]

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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 […]

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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 […]

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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 […]

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What is covered under Workmen Compensation Insurance Policy?

The Workmen compensation insurance policy is a product designed to ensure the employer against their liability towards the workers in case of an injury at the workplace. Workmen Compensation Act: Workmen Compensation Act is to provide organizations and workers a medium to decide the extent of compensation owed by the employer if a worker sustains […]

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Is a Workmen Compensation Insurance policy compulsory?

Workers employed by businesses exposed to high risks can face occupation-related health issues and accidents at work.  the Workmen Compensation Act, 1923 addresses concerns with regard to loss of income and healthcare costs. Also, renamed the act as Employees Compensation Act, 1923. As per the rules and regulations laid down in the Workmen Compensation Act, […]

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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 the Workmen Compensation policy and Employee State Insurance. Despite several similarities in terms of benefits, there are differences in the applicability and functioning of both […]

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