Workmen’s Compensation insurance is a policy that covers the legal liability of employers under the Workmen’s Compensation Act of 1923 and the Fatal Accident Act of 1855. Despite taking preventive measures and safety precautions, accidents can still occur in the workplace. The Workmen’s Compensation policy enables employers to provide compensation to their employees or their families in case of death or bodily injury, including permanent partial disablement, permanent total disablement, or temporary disablement caused by an injury or accident in the workplace, including certain occupational diseases, arising out of and in the course of employment. This policy also covers medical expenses, occupational diseases, compressed air diseases, and terrorism.

Who should buy Workmen’s Compensation Insurance?

Workmen’s Compensation insurance is recommended for all manufacturing, trading, and service-oriented setups, covering both floor workers and office staff. The policy can also benefit contractors and sub-contractors. It can be purchased by individuals, public or private companies, partnership firms, or any other business or trading entity operating within the country.

Why should you buy Workmen’s Compensation Insurance?

There are several reasons why purchasing Workmen’s Compensation insurance is beneficial. This policy provides legal compensation payments to employees or their dependents in the event of an injury or accident, including certain occupational diseases, arising out of and in the course of employment, resulting in disablement or death.

What is Included in Workmen’s Compensation Insurance?

Workmen’s Compensation insurance includes basic covers such as accidental death, permanent total or partial disability, and temporary total disability. Additional covers may also be included, such as medical extension, compressed air disease, occupational disease, terrorism, and sub-contractor coverage.

Benefits of Workmen’s Compensation Policy