The workmen’s compensation policy covers one of the occupational illnesses-Compressed air diseases. The working environment where air pressure may be higher or lower than the normal surface air pressure causes this sickness. This disease is likely to affect workers employed at high altitudes or underwater. Decompression Sickness or DCS is the other name for it. […]
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.
About the common workplace injuries and how to prevent them
Injuries at the workplace are common, and therefore it is crucial to obtain financial protection through workmen liability insurance.
Which mode is better for buying Workmen Compensation Insurance policy?
One can buy workmen’s compensation insurance either through a representative of the insurance company(ies) or through the online medium. Traditional Method – Offline mode Advanced Method – Online mode Key Takeaways The Transparency Edge: Online research eliminates information asymmetry, ensuring the employer understands the policy features as well as the advisor does. Rapid Turnaround: The […]
Are there any value-added services in workmen compensation?
Employee welfare is crucial for every business to ensure its smooth run and growth. Protecting the employee’s health and welfare benefits both employer and employees. It’s the legal responsibility of every employer to protect employees’ health and safety. The primary and effective way to comply with legal obligations is to avail workmen’s compensation policy. Key […]
How to make a claim under a workmen compensation policy?
Workmen’s Compensation policy is the primary solution for employers to safeguard themselves against statutory liabilities to their employees. With a good workmen compensation policy, employers can exhibit their potential to meet the statutory obligations imposed by the workmen’s Compensation Act, 1923. Therefore, one must know how to make a claim under a workmen compensation policy. […]
What is workmen compensation?
For any organization, employees are the most valuable tangible assets. The human asset needs the most in the evolution of business in this competitive and dynamic business world. It’s important to safeguard the company’s human assets from workplace hazards. There are some job profiles that would involve a higher risk of injury and even death. […]
What are the exceptions or exclusions in workmen compensation?
Workmen Compensation Insurance provides financial coverage to employees in case of injury, disability, or death due to work-related accidents. However, the policy includes certain exclusions that limit liability for the insurer. Key Takeaways The “3-Day” Rule: For minor injuries, the policy typically does not pay compensation if the disablement lasts for 3 days or less […]
What Are the Different Types of Medical Expenses Covered Under A Workmen Compensation Policy?
Medical expenses cover can be included as an add-on in a workmen’s compensation insurance policy. Different insurers define the limit of medical benefits differently. Some of these options are: A fixed sum (per case) daily, for the duration of hospitalization The actual amount spent up to the total sum insured as defined at the time […]