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Who is the right insurer for a workmen compensation policy?

Who is the right insurer for a workmen compensation policy? An organization that employs individuals is expected to adhere to the Workmen’s Compensation Act, 1923, Factories Act, 1948 and the rules laid down in Common law. These Acts and laws require companies to pay compensation to their employees and workers if they suffer physical injuries […]

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How do I buy a workmen compensation policy?

How do I buy a workmen compensation policy? A workmen’s compensation policy is an important coverage for organisations.It protects employersfrom financial liabilities suffered under the Workmen’s Compensation Act, 1923, Fatal Accidents Act, 1855 and also under Common Law. Every organization is financially liable to compensate its employees if they suffer any physical injury due to […]

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How to file a claim under Workmen Compensation Insurance?

How to file a claim under Workmen Compensation Insurance? A Workmen’s Compensation policy covers the financial liability of an employer when its employee suffers from any physical injury during the course of his/her employment. The policy helps the employer cover his financial liabilities as stated under the Workmen’s Compensation Act, 1923. Hence, it is an […]

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Seven Exclusions of Workmen Compensation Policy

Seven Exclusions of Workmen Compensation Policy The Workmen Compensation Insurance Policy is an essential backup plan for employers. Itprotectsthem from incurring any financial liability when workers have an accident. The policy covers financial expenses arising due to physical injury, partial or total disability and occupational diseases of workers while on duty or because of their […]

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How does Workmen Compensation benefit an Organisation?

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

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How to decide the Insurer in Workers’ Compensation?

How to decide the Insurer in Workers’ Compensation? A workmen’s compensation policy provides a wide scope of coverage for the insured organization. The policy covers financial liabilities in case of physical injuries, permanent or temporary disablements and even death of the organization’s employees due to unexpected mishaps. Hence, it provides financial relief to organizations. So, […]

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What is indemnity in Workers Compensation Insurance?

What is indemnity in Workers Compensation Insurance? The indemnity clause entitles workers to get compensation for lost wages that they are otherwise capable of earning while recovering from a work-related accidental injury/illness. In workers’ compensation insurance, ‘to indemnify’ means to make payments to the injured or sick employee or to their family members during their employment […]

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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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