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Workmen's Compensation Policy

One of the key responsibilities of a company is to provide a safe and healthy working environment. In an unfortunate event of an Employee suffering a bodily injury (temporary or permanent), or death during the course of employment ,Employer is legally liable to pay compensation to the Employee under the Employee’s Compensation Act 1923 and subsequent amendments of the said Act, The Fatal Accidents Act 1855, and at Common Law. The policy provides protection to the employer against this statutory liability. In Indian context with the advent of global work environment and increased employee right awareness which can translate into costly law suits and exorbitant compensation the policy provides protection to the employers. The Workmen's Compensation Insurance Policy provides for legal liability coverage for compensation to your employees for bodily injury or death caused due to accidents / occupational diseases arising out of and in course of employment. The 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. It is compensation payable under a scheme set out in the Workmen's Compensation Act of India, monitored by the Ministry of Labour.

This product is addressed to:
  • 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.
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What does Workmen's Compensation Insurance cover?

  • 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 provides for two forms of insurance under Table A and Table B :
  • Table A: Indemnity against legal liability to all employees (whether or not within the definition of the term Workmen) under the Workmen's Compensation Act 1923 and subsequent amendments 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 the employees who fall within the definition of "Workmen" under the Workmen's Compensation Act, 1923 as amended.)

Key Exclusions

  • 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
  • War group and nuclear group of perils
  • Liability to employees of contractors of the Insured (unless separately declared and covered)
  • Liability of the Insured assumed under an agreement
  • Occupational Diseases.

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.

Extensions

  • Actual medical, surgical and hospital expenses including the cost of transport to hospital for Accidental employment injuries
  • Any compensation for diseases mentioned in Part ‘C’ of Schedule III of the Workmen’s Compensation Act, 1923, which arise out of and in the course of employment
This policy is ideal for companies like Construction companies, where there are many accidents that happen on a regular basis.
Workmen's Compensation Policy
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  • InstantCover Insurance Web Aggregator Private limited
    710, 6th B Cross, 16th Main Road, Koramangala 3rd Block,
    Bangalore - 560 034.
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