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 important to know How to file a claim under […]

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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?

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. Lets know How to decide the Insurer in Workers’ […]

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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 course, and as specified by the worker […]

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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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What is covered under Workmen Compensation Insurance Policy?

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

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Is a Workmen Compensation Insurance policy compulsory?

Workers employed by businesses exposed to high risks can face occupation-related health issues and accidents at work.  the Workmen Compensation Act, 1923 addresses concerns with regard to loss of income and healthcare costs. Also, renamed the act as Employees Compensation Act, 1923. As per the rules and regulations laid down in the Workmen Compensation Act, […]

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What is the difference between the WC policy and ESIC?

Workers in India have access to various health insurance and social security schemes to safeguard their interests during contingencies. Two of the security benefits offered to workers in India are the Workmen Compensation policy and Employee State Insurance. Despite several similarities in terms of benefits, there are differences in the applicability and functioning of both […]

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