Important features of Workmen Compensation insurance
Welcome to our blog on workers compensation insurance ! In this post, we’ll be exploring the features of workmen compensation insurance policy and how it can protect both employers and employees in case of workplace injuries. We’ll also be sharing a short video that includes a real-life case study to demonstrate how the insurance can benefit businesses and workers. So, whether you’re a small business owner or an employee, this blog is for you.
Case Study
Harsh Nair is the owner of a small chemical manufacturing company that employs 28 workers, which puts him within the purview of the Workmen Compensation Act. Consequently, he is obligated to compensate his workers for any injuries sustained during work hours. To mitigate the risks associated with chemical manufacturing, Harsh purchased worker’s compensation insurance.
The benefits of the insurance were evident when one of Harsh’s workers, Ram, suffered severe burns while working on a boiler. The Workers compensation fund will provided Ram with appropriate compensation, as per the legal requirements, and Harsh agreed to offer him a different role in the company, as well as additional compensation.
In another instance, workers who had been exposed to fumes during scientific experiments suffered respiratory problems. They claimed that the exposure occurred during the ordinary course of their work and were therefore entitled to compensation under Part C of Schedule III of the Act, which covers such diseases.
Important Features of Workmen Compensation Insurance Policy:
- Covers for medical expenses due to employment related injuries
- Covers employees legal liability arising from an accident to a worker during working hours at work premises
- Policy pays the legal compensation decided by Labor Commissioner or by the court
- Pays defense costs arising out of lawsuits filed in the court
- Covers diseases and illnesses causes by prolonged exposure to occupational hazards
At SecureNow, our team of experts can help you navigate the complexities of employee compensation act and employee compensation policy. With our in-depth knowledge and experience, we can guide you towards the right policy that meets your unique needs. Contact us today to learn more!
For further queries related to workers compensation , you can write to us at support@securenow.in or call us +91 9696683999.
