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Putting your Employees First

Employees Compensation Policy

Features & Benefits

  • Any physical injury or death to employees, caused due to accidents occurring in the progression of the employment gets compensated under the Employees' Compensation Policy. The policy protects an employer against legal liability under:

    1. The Employees' Compensation Act, 1923, and subsequent amendments to the said Act before the date of policy issue
    2. Common Law

Coverage

The policy compensates the Insured/Employer against his obligation as an "employer" for the accidental injuries (including mortal) borne by the employees in the course of work. All employers, including contractors or principals, appointing and involving 'employees' as demarcated in the Employees' Compensation Act or sharing an employer-employee relation are eligible to buy this cover.

On a payment of extra premium, the main extensions include -

  • Occupational Diseases
  • Medical expenses including related hospital, surgical and transportation expenses.
  • Employees of Contractors

Frequently Asked Questions

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1. What is 'Workmen Compensation Act'/ 'Employees Compensation Act'?

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The Workmen Compensation Act is an employee welfare scheme initiated by the Government of India under which the employer has to bear the legal liability of his employees in case injury/accident/ caused during or as a result of the course of employment

2. Who are 'Workmen'?

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The section 2(1) (n)of the act clearly defined who is a workmen. And the schedule II of the Act, mentions the list of persons who are subject to the section 2(1) (n) , is also part of the definition of workmen

3. Who is an 'Employer'?

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Any body of persons, whether incorporated or not, management of the employer and legal representative of the deceased employer is the employer. The definition of employer is also extended even when the service of workmen is temporarily lent or let on hire to another person by the employer with whom the workmen or employee has signed a contract or service of apprenticeship.

4. When does an employee qualify for 'Worker Compensation' benefit?

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If an employee gets an accidental injury during the course of official duty, the employee becomes entitled to specified workmen compensation benefits. The policy pays for death or disability caused due to accident

5. What are the extensions provided to 'Workmen Compensation Policy'?

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The extensions for Workmen Compensation Policy is as follows:
o Actual medical, surgical and hospital expenses including the cost of transport to hospital for Accidental employment injuries

o Any compensation for diseases mentioned in Part �C� of Schedule III of the Workmen Compensation Act, 1923, which arise out of and in the course of employment.

6. What is employer's liability insurance?

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Workmen compensation insurance is a type of employer�s liability insurance. Herein, liability arising on the employer due to death or disability of the employee in office or factory premises are covered.

7. What is fatal & non-fatal accident?

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Any injury or accident leading to death of the workman during the course of employment is a fatal accident. Whereas, any injury or accident resulting in partial or permanent physical disablement such as loss of limb or hearing is defined as non-fatal accidents.

8. Who are the dependents of the deceased worker/workmen/employee?

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Any injury or accident leading to death of the workman during the course of employment is a fatal accident. Whereas, any injury or accident resulting in partial or permanent physical disablement such as loss of limb or hearing is defined as non-fatal accidents.

9. What does the 'Workmen Compensation Insurance' does not cover?

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Some exclusions to workmen or employee compensation policy are:
o Liability of the Insured assumed under an agreement

o Diseases mentioned in Part �C� of Schedule III of the Workmen�s Compensation Act, 1923, unless explicitly agreed to be covered.

o Any change in statute provisions after the policy has commenced

10. How Does 'Employee Compensation Insurance' protect employees?

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Worker insurance also offers a layer of protection to employers. If the injured employee accepts worker comp benefits then they are generally waiving their right to sue for the incident that caused the accident.

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How is the premium amount of the WC insurance determined?

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The premium amount of the WC insurance is determined by a number of factors, namely �
o Occupancy

o Wages

How do I record any changes in the policy?

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What is third party liability insurance? Is it covered in this policy?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

What is third party liability insurance? Is it covered in this policy?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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