Exposure to workplace hazards such as chemicals, dust, noise, or physical strain can lead to immediate or long-term physical health issues. Work-related stress and anxiety can lead to mental health conditions like depression, or post-traumatic stress disorder. Occupational diseases hazards can significantly affect an employee’s quality of life, impacting their ability to perform daily activities […]
Exploring Factors That Can Impact Your Work Compensation Policy Claim Negatively
A work compensation policy is an insurance mandated by the government for employers to ensure the well-being of their employees or workers. This insurance is beneficial for both employers and employees. It gives financial protection to employers against the statutory liabilities that may arise from claims related to workplace accidents. The policy compensates the employees […]
Workmanship Compensation Policy for SMEs: Opportunities and Key Strategies
Employees are the most valuable assets of any company. Especially for small businesses that are thriving to grow, it is crucial to create a healthy and safe work environment for their employees. A safe workplace can boost employees’ productivity. However, it is a challenging task and a huge responsibility for SMEs. Despite all the safety […]
Workman Policy: An Insider’s Guide to Effective Underwriting Practices
A workman policy, also known as a workmen’s compensation policy, is an insurance type that businesses must obtain to safeguard the well-being of their employees. This policy offers compensation for death, wage replacement, and medical benefits to employees facing work-related injuries or illnesses that result in death or disability. The objective of the policy is […]
What are the Key Components of a Comprehensive Employment Practices Liability Insurance?
Businesses need to safeguard themselves against hazards associated with employment in the dynamic modern workplace. Employment practices liability insurance claims deriving from discrimination, harassment, and wrongful termination, among other issues. What is Employment Practices Insurance? For companies navigating complex labour laws and shifting societal norms, EPLI offers a vital safety net that protects against costly […]
What is Occupational Hazard Insurance and its Coverages?
Workers’ compensation insurance, often known as occupational hazard insurance, is an essential line of defence for companies and employees. It provides financial security against work-related illnesses or accidents, ensuring missed income and medical care. Protecting workers from risks related to their occupations is essential for maintaining a safe workplace and preventing financial disaster. Occupational Hazard […]
Decoding Labor Insurance: Why It Matters for Regular Employees and Hired Labor
Labor power is the only capital that every working laborer possesses for their livelihood. Government has thus made it mandatory for the employer to compensate the labor for losses suffered due to workplace accidents. As per the labor protection laws, the government has made provisions of social guarantees for the affected laborers in accidental mishaps. […]
What are the components of employment injury benefits under WC Policy?
Components of Employment Injury Benefits under WC Policy Having an accident in the workplace can be devastating, both emotionally and financially. In India, the employer is liable to compensate the employee for financial losses arising due to such incidents as per the Workmen Compensation Act, 1923. Insurance policies are designed to assist individuals who sustain […]
Change of rules to the Workmen’s compensation policy in 2020
The Workers’ Compensation Act ensures compensation and support for workers injured on the job. It applies to various industries including factories, mines, etc. It provides financial aid and medical care. The Employee compensation policy provides protection to employees against work-related injuries and illnesses. It aims to relieve workers of the financial burden by holding employers […]
Workers Compensation Insurance Benefits in Case Injury was Due to Own’s Fault
Workers’ Compensation Insurance is a critical component of safeguarding employees’ well-being and financial security in organizations. It offers coverage and benefits to employees who are injured or unwell at work. However, an employee’s damage may occur as a result of their own carelessness or negligence. In such instances, it is critical to comprehend the consequences […]