Workmen’s Compensation Insurance

Who Can Be Insured

This insurance policy is essential for each and every employer, either as the principal or the contractor who engages "workmen" as defined by the Workmen's Compensation Act to cover his liability towards them under statutory and Common Law. This insurance policy protects the insured party from legal liabilities against injury or death of any of his employees who is a "workman" as defined by the Workmen's Compensation Act.

Risks Covered

This insurance policy is necessary for every employer since it indemnifies him against his legal liability as an "employer" towards accidental or fatal injuries sustained by his work men during work.

On extra payment of premium, medical, surgical and hospitalization expenses including transportation costs are also covered.

Liabilities that may arise owing to diseases mentioned in Section III (C) of Workmen's Compensation Act during the course of employment are also covered.

Compensation Offered

This insurance policy stands subject to the provisions of the Workmen's Compensation Act. The sum insured is based on the annual wages of the workmen during the insurance period.

So the compensation is adjusted at the end of the policy period or submission of the statement of actual wages paid during the insurance period.

The policy can also cover the medical expenses of the employer's workmen up to the limit specified under the policy.

Exclusions
The insurance policy will not pay any claims arising from:
Any injury that does not result in a fatality or disability for 3 days subsequent to the accident.
The first 3 days of a temporary disability if the total temporary disability period does not exceed 28 days.
Any non - fatal injury caused by an accident that is directly attributed to.
Influence of drinks or drugs.
Willful disobedience of an order that would have secured the workman's safety.
Willful removal or disregard of any safety device.
War or nuclear group of perils.
Liability towards employees of the contractors of the insured (unless specifically declared).
Any employee who is not a "Workman" as per the Workmen's Compensation act.
Liability assumed under an agreement.
Occupational diseases unless cover is extended on payment of extra premium.
Any change in statute provisions after the policy has commenced.

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