Workmen Compensation Insurance

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Safeguard your employees from injuries & death at work

Workmen’s Compensation insurance is the primary method by which an employer can demonstrate the ability to satisfy the obligations imposed by the worker’s compensation statutes.

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Key Benefits - covers employees bodily injury or death while on the job

The Workmen's Compensation Insurance Policy or WC Policy, provides for coverage for compensation to your employees as deemed mandatory by the Workmen's Compensation Act of India, monitored by the Ministry of Labour, for bodily injury or death caused due to accidents / occupational diseases arising out of and in the course of employment.

This product is addressed to:

  • All manufacturing units with employees who fall under the purview of the Workmen's Compensation Insurance Act, 1923

  • All business organisations who have Employers' Liability exposures under Common Law.

What risks does your policy cover?

Indemnity to insured against his liability as an employer to accidental injuries (including fatal) sustained by the workman whilst at work.
On extra premium-medical surgical and hospital expenses including the cost of transport to hospital for accidental employment injuries called medical extension is available.
Liability in respect of diseases mentioned in Part C / schedule III of WC Act called Occupational diseases, on additional premium; which arise out of and in the course of employment.

The amount of compensation / reimbursable would be as per the provisions of WC Act.
The policy will not Pay under below circumstances:
Any injury which does not result in fatality or partial disablement for period exceeding 3 days
First 3 days of disablement where the total disablement is less than 28 days
For any non-fatal injury caused by any accident which is directly attributable to (a)Influence of drinks or drugs (b)Willful disobedience of an order for securing safety of the workman (c)Willful removal or disregard of safety guard device.
War group and nuclear group of perils
Liability to employees of contractors of the insured (unless specifically declared)
Employee who is not a "workman" as per WC act.
Liability of insured assumed under an agreement.
For occupational diseases mentioned in part "C" of schedule III of WC Act unless cover is extended on extra premium.
Increase due to any change in statute provisions after policy had incepted.Under more than one statute / one forum for the same injury
Workmen Compensation Insurance

*Above list of coverages & exclusions is indicative in nature. For exact coverages & exclusions please refer policy wordings.

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          Workmen Compensation Insurance

          Every business and its employees expect to simulate the operations of an organization in a safe, secure, and sound environment. But if things go sideways and any employee gets hurt on-site while working then according to Workmen Compensation Act, 1923 clearly states that the employer is to cover the employee financially by providing a certain compensation. An employee gets covered and protected while an employer is also protected against any statutory liabilities that may arise, basically it protects both parties.

          As per the Workmen Compensation Act, 1923, an employer is liable to compensate an employee under the following scenarios:

          • Death: Any injury or mishap that lead to the death of an employee must be covered
          • Permanent Total Disablement: Just in case an employee was completely disabled and their current stage disables them for a lifetime then the employer must compensate that employee
             
          • Permanent Partial Disablement: If an employee is completely unable and permanently disabled to perform his duty at full physical capacity then the employer must compensate the employee
             
          • Temporary Disablement (Full or Partial): If an employee is temporarily disabled fully or partially then the employer must cover the employee financially for his social security

          Compensation under  Workmen Insurance Policy

          The coverage under the Workmen Insurance Policy is entirely dependent on the assessment of the labour commissioner and he/she is the person who directs the insurance company to disperse the claim amount

          In short, Workmen Compensation Policy is a great tool for the employer and employees as it provides;

          • No-fault coverage: No matter if the employer is at fault or not at fault the employee gets compensated anyway. 
          • Protection to employees: Employees feel secure and safe to go out and work without worrying about his/her dependents.
          • Liability risk is diminished: With Workmen Insurance Policy you are insured off from any possible liability that may arise in the form of cover provided to any hurt or deceased employee.