Worker compensation insurance gives legal liability coverage to the employer. It helps the employer to cover the financial and legal costs when one of its employees suffers injury during working hours. Similarly, a group health insurance policy takes care of the medical expenses of the employee. Both covers serve different purposes. An employee can get […]
Articles Tagged: Workmen Compensation Insurance Policy
Make Workplace Safety a Key Part of Your Business. Here’s Why
Make your office premises a safe place for your employees. Here is why as an employer you should invest in maintaining workplace safety.
What is Average Clause in Workers Compensation Insurance?
An average clause in workmen’s compensation insurance comes into play when the absolute number of employees changes during the term of the policy. The change in the number of employees can be due to the joining of new employees or the exit of old employees once the policy comes into force. Workman compensation is an […]
How Expensive is Workers’ Compensation Insurance?
The valuations of the Insurance Information Bureau of India (IIB) determine workers’ compensation insurance or Workmen compensation insurance tariffs. In general, the premium amount depends on: The average salary you would want the insurer to consider for benefits estimation, Covered occupations for employees, and The Trade or business of the proposer Two types of employer […]
How the Employer’s Liability is Decided Under a Workman’s Compensation Policy?
In 2016, a worker lost his life, while several others got injured when a fire broke out in a plastic factory in Delhi’s Narela. Even in a safe and conducive work atmosphere, accidents can happen. In such a case, the employer’s liability arises to pay the compensation to the injured. The compensation amount in some […]
Ready to Sue Your Employer? Read this First!
Ready to Sue Your Employer? Read this First! You might hardly find a person who has never worked in an unfavorable working condition. Various factors violate any company’s working atmosphere, like office politics, stress, long working hours, or a more serious one—harassment. The off-repeated advice in such situations is to look for another job. Only […]
How to File A Workmen Compensation Claim?
Workmen compensation policy is the primary method by which you (as an employer) meet the responsibilities imposed by the worker’s compensation statutes. The policy covers your statutory liability for death or bodily injuries caused to your employees, which arises during employment.
10 Questions of Workmen Compensation Insurance Answered
Workmen’s Compensation Insurance is an employer’s liability insurance, which covers the employer’s liability to pay compensation to an employee or worker, injured on duty. What is Workmen’s Compensation? It is a system of insurance that provides financial assistance to employees who are injured or become ill as a result of their work. Who is eligible […]
Which factors determine premium for Workmen Compensation insurance?
Workmen compensation insurance is a vital part of every business. The premium rates, however, depend on various factors. Read more to find out.
Does Premium of Workmen Compensation Policy Change Every Year? How?
It is true that the premium for workmen’s compensation insurance policy changes every year. The premium is based on occupation, the wage of workers, and several other factors. Hence premiums are revised when there is an underlying change in these factors. Factors influencing change in WC policy Some factors that bring a change in the […]