The Workmen’s Compensation Insurance Policy provides for legal liability coverage for compensation to your employees for bodily injury or death caused due to accidents / occupational diseases arising out of and in course of employment.
The policy provide coverage for Death, Permanent Total Disability, Permanent Partial Disability,Temporary Total Disability.
Workmen’s Compensation Act, 1923
The Workmen’s Compensation Act, 1923 is one of the important social security legislation. It aims at providing financial protection to workmen and their dependents in case of accidental injury by means of payment of compensation by the employers. This Act makes it obligatory for the employers brought within the ambit of the Act to furnish to the State Governments/Union Territory Administrations annual returns containing statistics relating to the average number of workers covered under the Act, number of compensated accidents and the amount of compensation paid.