The workers’ compensation (WC) insurance policy safeguards organizations from the threat of expensive legal suits and financial liabilities. Employees’ compensation insurance policy is the other name for it. Let’s look at the rights of the company after the loss under Workers Compensation Insurance. Rights Of Employers Under WC Policy The companies/employers that purchase the insurance […]
Under a workmen compensation insurance policy, a buyer can purchase medical expenses cover as an add-on. 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 […]
Most organizations purchase workmen compensation insurance as an annual contract. However, the number of workers in any organisation could keep changing throughout the year. Thus, any or both of the following two situations may occur at the time of a claim: Number of workers employed by the insured is different from what was provided at […]
The world is full of uncertainties, and no one can predict their fate, but we keep on trying for a better tomorrow. Similarly, your organization is your little world where you try best for your employee’s safety. But sometimes worst things can happen like a workplace injury or illness that does not only affects your […]
Occupational diseases are the illness sustained by the worker during the course of their employment or due to the nature of work. Schedule III of the Workmen Compensation Act provides the list of occupational diseases. This schedule is divided into three parts – the diseases in Part A & B are excluded from policy coverage. […]
The Workmen Compensation Act, 1923 recognizes both the employees of an organization, and their dependents as beneficiaries, worker compensation insurance entitles both to receive the monetary benefit. The dependent is entitled to the insurance benefit in case of a workplace accident or injury, resulting in the death of an employee. However, the survivor benefits are […]
The workmen 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. […]
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. An important factor to note about worker’s compensation is that it is only applicable in the case where the […]
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.
Injuries at the workplace are common, and therefore it is crucial to obtain financial protection through workmen liability insurance.