Workmen Compensation Insurance Policy In India

It is compensation payable under a scheme set out in the workmen s compensation act of india monitored by the ministry of labour.

Workmen compensation insurance policy in india.

United india launches corona kavach policy united india with effect from 10th july 2020. Workmen s compensation insurance policy covers statutory liability of an employer for death or bodily injuries caused to employees due to accidents arising out of and in the course of employment. To buy arogya sanjeevani policy uiic please click here. To know more about revised family medicare policy click here.

Employees compensation insurance policy whereas the insured by a proposal which shall be the basis of this contract and deemed to be incorporated herein has applied to sbi general insurance company limited hereinafter called the company for the insurance hereinafter contained for the. Workmen s compensation insurance policy. Also known as employee compensation insurance or labour insurance this insurance enables an employer to demonstrate his ability to meet the. Insurance is the subject matter of the solicitation.

Letter of introduction family medicare policy. Therefore any workmen compensation policy should cover the following. Matter india is a manufacturing firm in ludhiana specializing in the production of automobile spare parts. The revised family medicare policy is launched w e f.

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. A wide scope of coverage is provided by the plan. This insurance is mandatory under the workmen s compensation act 1923 in india. It is important for both the employee and the employers.

The policy provides a list of coverage extensions which are available at an additional premium. The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by workmen in the insured s immediate service and arising out of and in the course of employment. A workmen compensation insurance policy is a commercial insurance policy that covers the legal liability of an employer to provide compensation to its workmen in case of their death or accident. Registered with irda of india regn.

Workmen s compensation protects organization from the threat of expensive lawsuits and large compensation payouts. The policy covers injuries and death suffered by employees of the insured organisation. In india for all manufacturing units with more than 20 employees having a workmen s compensation insurance is mandatory to have insurance benefits for workers or. A case of workmen compensation policy.