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 suffered by the employer if the employee suffers from any physical harm 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. The policy covers […]

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What is General Insurance?

Any insurance other than the life insurance is called as general insurance. There are certain principles that guide any insurance contract, the principle of indemnity being one of them. This principle states that the insured should not profit out of the insurance claim, i.e. insurance contract is supposed to return less than or equal to […]

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How to decide the Insurer in Workers’ Compensation?

You may follow the steps given below to arrive at the best possible insurer for your worker’s compensation policy: A Competent Insurer: With the number of private sector players growing in the industry, you have to research for an insurer which has the width of presence, financial strength, and requisite infrastructure to support the claim […]

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What is indemnity in Workers Compensation Insurance?

The principle of indemnity enables the worker (insured) to be restored to the same financial condition as s/he was, before the loss occurred due to the workplace accident. In workers’ compensation insurance,  ‘to indemnify’ means to make payments to the injured or sick employee or to their family members (if in case the death has […]

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What are the statutory requirement for Worker Compensation Insurance?

The employer takes the worker’s compensation insurance to cover the risk of the employment injury of its employee who is considered as workmen as per the Workmen Compensation Act. The employers with more than 20 workers are compulsorily needed to get them registered under the Employees State Insurance Act. But, whereas the employers with less […]

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What is covered under Workmen Compensation Insurance Policy?

Workmen compensation insurance is a product designed to insure the employer against their liability towards the workers in case of injury at the workplace. Workmen Compensation Act: Workmen Compensation Act was brought in to provide organizations and workers a medium to decide the extent of compensation owed by the employer if a worker sustains an […]

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What is the Workmen Compensation Insurance Policy?

In today’s highly global work environment, employees’ rights have also become important. To safeguard organisations from the threat of costly lawsuits, insurers offer workmen’s compensation policy. It is an insurance policy which covers statutory liability of an employer for death, bodily injury or occupational diseases sustained to employees. It is also known as the ‘Employees […]

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What is the difference between the WC policy and ESIC?

In India, there are various health insurance and social security schemes offered to the workers on the job to benefit during the contingencies. Workmen compensation policy and Employee State Insurance are two of the security benefits offered to workers in India. Though both the schemes and policies offer many similar benefits, there is a lot […]

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