This policy covers the legal liability of an Employer to an unlimited extent, under the Workmen’s Compensation Act, The Fatal Accidents Act, and at Common Law. This liability devolves statutorily on the employer if his employee, falling under the purview of the definition of “Workman”, suffers death, bodily injury (both temporary and permanent), and disease arising out of and in the scope of his employment.
All manufacturing units with employees who fall under the purview of the Workmen’s Compensation Insurance Act, 1923 have Employers’ Liability exposures under the Act. All business organisations have Employers’ Liability exposures under Common Law and such organisations form the target market for this class of business.
Workmen’s Compensation Policy offers monetary compensation to the employees in case of medical emergencies during their employment period. This policy can be issued even to the employees who do not fall in the scope of Workmen’s Compensation Act, 1923, and subsequent amendments thereto.
• Comprehensive coverage of all statutory requirements of employers
• Reimbursement of legal expenses incurred with the company’s consent
• Covers death, permanent total and partial disability, and temporary disability of employees when at work
• Optional cover for medical, surgical and hospital expenses, including cost of transportation to hospital, on payment of extra premium
• On payment of extra premium, the policy can be extended to cover work-related diseases mentioned in the Workmen’s Compensation Act
Workmen’s Compensation Insurance Policy Coverage
All business organisations have Employers’ Liability exposures under Common Law and such organisations form the target market for this class of business.
The policy covers legal liability of an employer under:
Table ‘A’ – Indemnity against legal liability to all employees (whether or not coming within the definition of the term Workmen) under the W.C.Act 1923 and subsequent amendment to the said Act prior to the date of issue of the policy, the Fatal Accidents Act, 1855 and at Common Law.
Table ‘B’ – Indemnity against legal liability under the Fatal Accidents Act, 1855 and Common Law. (Table ‘B’ policies may not be issued to cover employees who fall within the definition of “Workmen” under the Workmen’s Compensation Act, 1923 as amended).
The policy indemnifies the insured i.e., the employer, against his liability as an “employer” for accidental injuries (including fatal) sustained by the “workmen” whilst at work. On payment of an extra premium, medical, surgical, and hospital expenses, including the cost of transport to a hospital for accidental employment injuries is also covered. Liability in respect of diseases mentioned in Part C / schedule III of the Workmen’s Compensation Act, which arise out of and in the course of employment, are also covered on payment of an additional premium.
The policy can be taken by any employer whether as a Principal or contractor to cover his liability towards employees under the statute and common law.
The policy also provides for payment of legal costs and expenses incurred with the Company’s consent.
The sum insured is calculated on the basis of:
Earnings include wages, salaries, over time, board / lodging, and other perquisites
No deductions for Pension / PF to be accounted
TA / traveling concessions not to be accounted
No deduction for IT deducted at source
• Who needs these policies?
- Any employer of employees who do not qualify as “workmen” but share an employee-employer relationship.
- Any employer of employees who do not qualify as “workmen” but share an employee-employer relationship
• Plan Coverage
Permanent total disablement
Permanent partial disablement
Legal costs and expenses incurred with the company’s consent
The Premium rate depends on the Occupation and Wages of the workmen.
Main Extension :
Medical Extension- Can be given by charging extra premium.
Workmen’s Compensation Insurance Policy Exclusions
Whilst we try to provide the best cover, there are certain events that are not covered in this policy. These are –
War group and nuclear group of perils
Liability to employees of contractors of the insured (unless specifically declared)
Liability of insured assumed under an agreement
Any sum which the insured would have been entitled to recover from any party but for an agreement between the insured and such party.
Any injury which does not result in fatality or partial disablement for a period exceeding 3 days
The first 3 days of disablement where the total disablement is less than 28 days
Any non-fatal injury caused by any accident directly attributed to:
Influence of drinks or drugs
Willful disobedience of an order for securing safety to the workman
Willful removal or disregard of a safety guard device
Diseases mentioned in Part ‘C’ of Schedule III of the Workmen’s Compensation Act, 1923.
This is not an exhaustive list
We provide above services for following General Insurance Companies:- Religare Health Insurance Company Limited, Apollo Munich Health Insurance Company Limited, Bajaj Allianz General Insurance Co. Ltd., Bharti AXA General Insurance Company Limited, Cholamandalam MS General Insurance Co. Ltd., Future Generali India Insurance Company Limited, HDFC ERGO General Insurance Co. Ltd., ICICI Lombard General Insurance Co. Ltd. , IFFCO Tokio General Insurance Co. Ltd., L&T General Insurance Company Limited, Liberty Videocon General Insurance Company Limited, Max Bupa Health Insurance Company Ltd., National Insurance Co. Ltd., Reliance General Insurance Co. Ltd., Royal Sundaram Alliance Insurance Co. Ltd, SBI General Insurance Company Limited, Shriram General Insurance Company Limited, Star Health and Allied Insurance Company Limited, Tata AIG General Insurance Co. Ltd., The New India Assurance Co. Ltd., The Oriental Insurance Co. Ltd., United India Insurance Co. Ltd.,Universal Sompo General Insurance Co. Ltd.,