The world is full of uncertainties, and no one can predict their fate, but we keep on trying for a better tomorrow. Similarly, your organization is your little world where you try your best for your employee’s safety. But sometimes worst things can happen like a workplace injury or illness that not only affects your […]
Who are Considered Dependents in Case of Workmen Compensation Insurance?
The Workmen Compensation Act, 1923 recognizes both the employees of an organization, and their dependents as beneficiaries, worker compensation insurance entitle both to receive the monetary benefit. The dependent is entitled to the insurance benefit in case of a workplace accident or injury, resulting in the death of an employee. However, the survivor benefits are […]
What is Workers’ Compensation and in which cases does it benefit the employee/worker?
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. Key Takeaways The On-Duty Mandate: Compensation is strictly for injuries sustained while the employee is on duty and performing […]
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. Key Takeaways The Scope of Necessity: “Medically Necessary” […]
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