Workmen Compensation Insurance Services

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Workmen Compensation Insurance Services:


Workmen Compensation Insurance Services offers policy that provides payment for legal compensation to employees or their dependents in case of injury and accident of the employees at workplace including certain occupational disease, arising out of and in the course of employment and resulting in disablement or death.
The method by which an employer can demonstrate the ability to satisfy the obligations imposed by the compensation statutes of worker is Workmen’s Compensation insurance.

Some facts about Workmen Compensation Insurance Services:

 

  • The legal liability of the employers is covered under the Workmen’s Compensation Act 1923 and Fatal Accident Act 1855 by the Workmen’s Compensation Insurance policy.
  • Accidents at the workplace are inevitable despite the preventive measures and safety precautions taken.
  • The employer will be able to pay the compensation to the employees or for their family in case of death or bodily injury caused due to injury and accident at workplace including certain occupational disease arising out of and in the course of employment by purchasing the Workmen’s Compensation policy.
  • The bodily injury can be either permanent partial disablement / permanent total disablement / temporary disablement.
  • Coverage for medical expenditure, occupational disease, compressed air disease and terrorism are provided by Workmen’s Compensation Insurance policy.
  • All manufacturing/trading/servicing setups should purchase Workmen’s Compensation Insurance policy for all floor workers and office staff as well.
  • Workmen’s Compensation Insurance policy can be taken by Individual, Partnership firms, Public or Private companies or by any of business or Trading entity operating in India.
  • Workmen’s Compensation Insurance policy is mandatory as per the Employees’ Compensation Act, 1923 and Indian Fatal Accidents Act, 1855.
  • The employer is protected against his liability from the workmen compensation act as well as fatal accidents and common law by taking Workmen’s Compensation Insurance policy.
  • Employee is covered only during the course of employment or when the accident happens while he/she is on duty.
  • Death, Disability, fixed Medical expenses as well as occupational diseases are covered.
  • Compensation related to Common Law are also covered.
  • Premium for Workmen’s Compensation Insurance policy is decided based on the salary of employee which is classified into two sections normally such as below 15k and above 15k.
  • The policy is not payable if the employee was under the influence of drinks or drugs or has disobeyed safety protocols which is out of the employee’s negligence.
  • Compensation that would be due is fixed by the Tariff and is calculated on the basis of age of the employee, the severity of the event and the wage of the employee
  • Workmen’s Compensation Insurance Tariff (W.C.Tariff) controls the Workmen’s Compensation Insurance Business in India.
  • Workmen Compensation Insurance policy also needs the premium which is paid by the employer.

Inclusion of Workmen Compensation Insurance Services:

  • Workmen Compensation Insurance policy cover the total cost of medical treatment and low wages incase the injury is caused due to or during employment
  • Accidental death, Permanent total or Partial Disability and Temporary total disability are included in basic covers.
  • Medical Extension, Compressed Air Disease, Occupational Disease, Terrorism and Sub Contractor Coverage are included in add on covers.
  • Indemnity will be provided to the Insured if any employee sustain bodily injury by accident or contracts disease arising out of and in the course of his employment by the Insured in the Business in the Insured’s immediate service.
  • It will also pay if the Insured is liable to pay compensation for such injury.
  • The insurance granted will not be extended to include any interest and/or penalty imposed on the insured on account of his / their failure to comply with the requirements laid down under the W.C. Act, 1923.
  • Indemnity will be provided to the Insured against their legal liability under the Fatal Accidents Act, 1855, and at Common Law.
  • Employees are sometimes exposed to some chemicals or allergens that can be harmful to them and cause illness. Any medical treatments if they get sick due to this cause will be covered by the Workman Compensation policy.
  • This insurance can help pay the medical bills o the employee and replace some of their lost wages when workplace injuries results in temporary or permanent disabilities like loss of sight or limbs.
  • The funeral costs will be beared by the policy if an employee loses their life in a work-related accident and death benefits will be provided to their beneficiaries.

Exclusions under the Workman Compensation policy:

  • The policy does not cover any penalty as imposed on the Employer under the WC Act.
  • Non fatal injuries or the ones where the Employee recover in a three day time frame will not be covered by the Workman Compensation policy.
  • Any liability towards contractual employees or arising out of war or invasion will not be covered by the Workman Compensation policy.
  • The policy does not cover accidents caused under the influence of intoxication.
  • Injury that will not result in death or permanent total disability caused by an accident  will not be covered by the Workman Compensation policy.
  • Any injury caused due to the willful disobedience of the employee to an order passed by he company exclusively framed for the purpose of securing the safety of the employees.
  • Employees who does not fall within the definition of 'workmen' under the Workmen’s Compensation Act, 1923 are not covered in this policy.
  • Any injury by accident or disease directly attributable to war, the act of a foreign enemy, invasion, hostilities (whether war be declared or not), mutiny, civil war, , insurrection, rebellion, revolution or military or usurped power are not covered in Workmen Compensation Insurance policy.
  • Any employees of contractors are not covered unless they are separately declared and covered.
  • Any liabilities assumed under an agreement will not be covered by the Workman Compensation policy.
  • The policy will not cover if an injury doesn’t result in disablement for more than 3 days, or in the worst case, a fatality.
  • The first 3 days of total disablement in cases where it lasts less than 28 days will not be covered by the Workman Compensation policy.
  • Any non-fatal injuries that were caused by an accident that was due to being under the influence of alcohol or drugs will not be covered by the Workman Compensation policy. 
  • Any non-fatal injuries caused by an accident that was due to the willfully disobeyed or disregarded the safety rules and regulations by the employee  will not be covered by the Workman Compensation policy.
  • The policy will not cover any non-fatal injuries caused by an accident when some safety or guard device was willfully removal or disregarded  

Importance of Workman Compensation policy:

  • Workman Compensation policy is mandatory for all type of organizations.
  • Workman Compensation policy will not only help keeping your employee safe but also save your extra expenses.
  • You can get this policy at an affordable rate by following the measures to lower the risk of accident in workplace. 
  • The basic responsibility of any business organization can be fulfilled by protecting the employees against any unfortunate events with Workman Compensation policy.
  • Employees get protected from various unfortunate events that can cause death or permanent disablement to them as the policy understands the importance of employees for any organization.
  • Quick claim settlement is assured and the burden of liability of employer can be avoided by paying the claim to the policyholder or his/her nominee.  
  • Taking Workman Compensation policy is crucial in the growth and reputation of an organization as it gives satisfaction to the workers that the employer is concerned about them and is doing its bit to protect them
  • Monetary relief to the patient at the time of their treatment in the hospital is one of the major benefits of Workman Compensation policy.
  • Workman Compensation policy is important for any organization as it is the responsibility of the employer to protect its employee against any unfortunate events.
  • Workman Compensation policy provides protection against any unfortunate events that can lead to death or permanent disablement to the insured as it understand that employees are the most important assert of any organization.
  • It can be assured that the claim is settled as quick as possible incase of  an accidental death, permanent total disability, permanent partial disability, temporary total disability or any other medical expenses.
  • The burden of liability o an employer can be avoided by bearing the total expenses incurred incase any employee meet unfortunate events, such as death or accident.
  • Loyalty can be build for your organization by purchasing Workman Compensation policy for your employee as they feel valued and believe that you care about them. 
  • A policyholder can claim compensation for various disabilities that may occur after an accident.
  • Loss of speech, loss of hearing and loss of eyesight are covered under Workman Compensation policy.
  • Workman Compensation policy covers other expenses, such as ambulance charges, repatriation charges and in case of death even the funeral expenses apart from hospital bills and medical treatment.
  • The insurance provider facilitates the home alteration and vehicle modification claims for the policyholder i it is required modify your house for easy living or to have transport that suits your needs to make traveling to work conveniently in the aftermath of an accident.
  • The insurance provider will reimburse the transportation cost of family to visit you if you are hospitalized more than 150km from your residence.
  • The compensation is received by the family in case of the death of the policyholder.

Benefits of Workmen Compensation Insurance Policy:

 

  • Your employees can get the help to recover from any type of work-related injury or illness by a Workmen’s Compensation Insurance .
  • It also protects your business against financial losses as your employee can file a lawsuit against you in a civil court for damages for his injury if he is injured during the course of their work which can end up costing your business a lot. 
  • Your employees are protected in case of any injury or illness that is a result of their job by this policy, and it also help them back to work.
  • Your own business are protected by reducing the risk of financial loss against financial losses in case one of your employees injured.
  • It will limit your business’s exposure to lawsuits by having a worker’s compensation policy, as it covers your employees' work related injuries.
  • Your business will also be protected by keeping it in line with The Workmen's Compensation Act, 1923.
  • Additional protection from being sued will also be provided as once a claim is settled, employees can’t file any additional claims for that incident.

How to choose the right Workmen Compensation policy?

  • The best coverage for all your employees and any risks to your business should be provided by the insurance policy chosen by you.
  • The nature of your business should be considered to see if they will be beneficial to you as things like occupational diseases may not be covered under a standard policy.
  • Your should be able to customize your sum insured  based on the nature of your business and the risk to your employees.
  • You should compare the features and premiums of different policies to find one at an affordable price that works for your business as the workmen’s compensation policy with the lowest premium might not be the best option for you.
  • You should look for an insurance company that provides easy to make claims and also a simple settlement process, as it can save you and your business a lot of hassle.
  • You should also consider the extras benefits, such as 24X7 customer assistance, easy-to-use mobile apps, and more provided by the insurance company.

Things to remember before getting a workmen compensation:

  • You need to focus on safety and security precautions and make sure your employees know all the essential safety measures and best practices.
  • Regular safety checks should be done to reduce even the potential for accidents and injuries.
  • You should have a process to manage any workplace injuries.
  • You should have a system to handle an onsite work injury sustained quickly, so that  the accidents can be prevented  from becoming more severe.
  • It can help both reassure employees and prevent medical costs from increasing. 
  • You should  read through the terms and conditions to understand and check what is and is not covered under your workmen compensation policy, so you won’t be surprised by anything later. 
  • You should pick the right Sum Insured amount as a higher sum insured will have higher premium.
  • But you won’t get sufficient coverage by getting a lower sum insured .
  • All the factors should be evaluated together, and the risks posed to your employees as well as the sum insured and the premium should be considered to find the policy that gives you the best value. 

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Getatoz have Workmen Compensation Insurance Services providers at major parts of India including Karaikal, Sangareddy, Savarkundla, Panchla, Phagwara, Sattur, Goalpara, Bhainsa, Nagercoil, Gokak, Anjangaon, Sagwara, Pithapuram, Narkatiaganj, Pudukkottai, Vrindavan, Lakhisarai, Bhawanipatna, Bhiwandi, Adityapur, Faridkot, Medininagar, O' Valley, Tiruvethipuram, Bikaner, Baharampur, Sohagpur, Robertson Pet, Mahendragarh, Tohana, Medinipur, Bongaigaon City, Yadgir, Kharar, Alirajpur, Yerraguntla, Pratapgarh, Rayadurg, Mandi, Mahemdabad, Kadi, Hapur, Rajahmundry, Shahpura, Ranaghat, Rayagada, Neyyattinkara, Sira, Padmanabhapuram, Baleshwar Town and other localities of India as well.


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