Every business needs to plan risk management strategies for long-term growth. The right liability insurance and business insurance policies are crucial to an organisation’s risk management and other internal measures to reduce risk. Businesses need to first understand the types of policies available and how Employers’ Liability Insurance Versus Workers Compensation Policy are relevant to […]
Articles Tagged: workers compensation policy
Workmen Compensation policy – Right insurer (infographic)
According to the Workers Compensation Act, 1923, Factories Act, 1948, and Common law, companies require to pay compensation to their employees and workers if they suffer physical injuries or death during the course of their employment. Since such injuries or deaths are uncertain, organizations face financial uncertainty. A workmen’s compensation policy helps companies cover these […]
Features of Workman Compensation policy – Infographic
A workmen’s compensation policy financially protects organizations when workers are injured or die during their employment. As per the statutes of the Workmen’s Compensation Act, 1923, organizations are financially responsible for compensating injured workers. To handle this financial responsibility, we design a workmen’s compensation policy. Let’s explore the important features of workmen compensation that make […]
Need for Workmen compensation insurance – Infographic
A workmen’s compensation policy is a commercial insurance policy that covers the legal liability of an employer under the Workmen Compensation Act of India, which is monitored by the Ministry of Labour & Employment. Labourers have the highest probability of injuries or death on the worksite for which this policy provides compensation. Workmen or employees […]