Workmen’s Compensation Insurance

This insurance is intended to cover the employer for liability towards payment of compensation under amended Workman’s Compensation Act, 1923. This insurance covers liability to their employees for personal injuries and to their dependents in the event of fatal accidents arising out of and in the course of employment.

The compensation payable for death, permanent total disablement and the half-monthly compensation for temporary disablement are calculated in accordance with the provisions of the Act.

The policy may be extended to provide payment of medical, surgical and hospital expenses including the cost of transport to the hospital incurred by the employer subject to the limit specified in the policy.

This Policy provides two forms of insurance:

‘Table A’ for all the employees whether or not coming within the definition of the term workmen under WC Act 1923 with subsequent amendments to the said Act prior to the date of issue of the policy, the Fatal Accidents Act, 1855 and at Common Law.”

Table ‘B’ for Indemnity against legal liability under the Fatal Accidents Act, 1855 and Common Law. (Table ‘B’ policies may not be issued to cover employees who fall within the definition of “Workmen” under the Workmen’s Compensation Act, 1923 as amended).

Major Exclusions

• An injury by accident or disease directly attributable to war, warlike operation and other convultions of nature, nuclear fuel or material and contamination by radioactivity.
• The insured’d liability to employees of contractors of the insured
• Contractual liability

Sum Insured

The amount of wages, salaries and other earnings expected to be paid during the period of insurance subject to maximum limit mentioned in the policy.

Premium Rates

The rates are dependent on the trade or occupation of the different catagories of employees.

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