Workers’ Compensation or Employee Compensation refers to the monetary compensation offered to workers or employees of an organization, firm, household or any establishment in lieu of any injuries they might sustain while involved in employment-related activities. An important factor to note about worker’s compensation is that it is only applicable in the case where the […]
Is Employee Compensation insurance limited to specific industries only?
Irrespective of the industry your business relates to, you need to buy a WC (also known as EC) policy. Read more to know well about this policy.
Running a Factory? Here’s Why You Need Workmen Insurance
Irrespective of the type of business, there is always a risk of workplace hazards. However, this risk is comparatively higher in factories than in offices. People hired in many small and big factories often have to work in a comparatively unsafe environment than those working in other job types. Such people are more exposed to […]
Why is workman compensation policy important?
Expects every business to keep the work environment safe for its employees. The employer is legally liable to pay compensation. If an employee suffers an injury (leading to disablement) or death due to workplace accidents or illnesses during the scope of employment. The Workmen’s Compensation Act, 1923 clearly states to pay compensation to employees for […]
Who Should Buy Workers Compensation Policy?
Any company or employer, including contractors, who hires workers as defined in the Workmen Compensation Act, of 1923, can purchase a workmen compensation insurance policy. This insurance cover provides legal liability coverage and also helps in easing the financial burden on employees and employers. Employers can meet the medical expenses of their employees in case […]
What does ‘Medically Necessary’ signifies in a worker compensation policy?
“Medically Necessary” is an important term in a worker compensation policy. The medically necessary term relates to either of the services or the supplies provided when the insured is in the hospital. These services or supplies also help to identify or treat the sickness or the injury. In worker compensation insurance, ‘medically necessary’ for the […]
What are the Duties of the Employer Under Worker Compensation Insurance at the time of loss?
Duties of employers in contingencies under Worker Compensation requires them fulfil the below obligations: Provide first aid and medical care – It is the prime responsibility of an employer to provide immediate first aid and medical treatment, wherever required. Report the injury- After the injury, an employer should enter a description of the injuries in […]
5 Common Risks That Construction Businesses Face
workers compensation coverage
What Is the Purpose of Workmen’s Compensation?
The primary purpose of Workmen’s Compensation Act, 1923, is to provide financial relief to employees’ families. In case of their death or injury at the workplace. The act also provides cover for employees that get an professional disease while in employment. Enforcing the Workmen Compensation Act 1923 ensures that employers compensate employees for work-related injuries, […]
Risks That Construction Companies Should Consider While Employing Blue Collared Workers
The construction industry is the key driving force of our economy. It provides employment to a large number of the people of our country. Construction workers form an important component of our dynamic workforce. We depend on construction workers to build our homes, construct office buildings, and pave and repair our roads. However, construction workers […]