Workplace injuries can be expensive. Accidents can happen, resulting in death or injury to employees at the workplace. Specifically, in businesses with the perilous nature of work, getting protection against workplace risks is extremely important. Workmen compensation insurance is effective as it secures you against lawsuits arising due to workplace accidents. Variation of premium from […]
Why do I need workmen compensation policy?
Workers and employees are always at risk of suffering employment-related hazards during 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 physical injury disability or death due to […]
Workman compensation Policy | What are the features of the policy
A workman compensation policy covers the financial liabilities on behalf of organizations. In case of injury or death of workers during their employment course. As per the statutes of the Workmen’s Compensation Act, 1923, organizations are financially responsible for compensating injured workers. A workmen’s compensation policy manages this financial responsibility. Let’s have a look into […]
What is the right price for workmen compensation policy?
A workmen’s compensation policy entails 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 unforeseen perils of employment. Moreover, a wide range of policy extensions is available to provide the maximum scope […]
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 or death during the course of their employment. Since such […]
How do I buy a workmen compensation policy?
A workmen’s compensation policy is important coverage for organizations. It protects employers from financial liabilities suffered under the Workmen’s Compensation Act, 1923, Fatal Accidents Act, of 1855, and also under Common Law. Every organization is financially liable to compensate its employees if they suffer any physical injury due to the nature of their employment. A […]
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 important to know how to file a claim under Workmen […]
Implication of Workmen’s compensation Act, 1923 and Factories Act, 1948,on a Business Owner.
Introduction to Workmen Compensation Act and Factories Act The Factories Act, of 1948, and the Workmen’s Compensation Act are based on the idea of improving working conditions. These Acts intend to regulate the health and safety of young persons, women, and children employed in the factories. They offer exhaustive coverage of situations where health and […]
10 Things business owners must do to comply with workmen’s compensation act, 1923 & factories act, 1948
The Workmen’s Compensation Act 1923 and Factories Act, 1948 protect the interest of the workers and also provides financial liability protection to employers. The Acts intends to improve working conditions and regulate the health and safety of young persons, women, and children employed in the factories. Workmen’s Compensation policy also pays for legal costs and […]
Seven Exclusions of Workmen Compensation Policy
The Workmen Compensation Insurance Policy is an essential backup plan for employers. It protects them 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 employment. It is imperative […]