Employee Compensation Insurance

One of the key responsibilities of a company is to provide a safe and healthy working environment. In an unfortunate event of an Employee suffering a bodily injury (temporary or permanent), or death during the course of employment ,Employer is legally liable to pay compensation to the Employee under the Employee’s Compensation Act 1923 and subsequent amendments of the said Act, The Fatal Accidents Act 1855, and at Common Law. Our policy provides protection to the employer against this statutory liability. In Indian context with the advent of global work environment and increased employee right awareness which can translate into costly law suits and exorbitant compensation the policy provides protection to the employers.

Key Features

The policy covers statutory liability of an Employer for death or bodily injuries caused to employees due to accidents arising out of and in the course of employment.

Cover For

• Death

• Permanent total disablement

• Permanent partial disablement

• Temporary disablement

• Additionally, legal costs and expenses incurred with our consent

• Policy can also be extended to include medical expenditure for necessary treatment

Key Exclusions

• War

• Death

• The Insured's liability to contractors’ employees (unless specifically declared and covered)

• Any liability of the Insured which attaches by virtue of an agreement but which would not have attached in the absence of such agreement

Extensions

• Contractual Employees: Can be covered as an extension if they are specifically declared under the policy

• Medical Expenses: There are 4 options to choose from to cover your hospitalization expenses under the policy.

• Option 1: With Per Employee and Aggregate Limit

• Option 2: With Per Employee Limit

• Option 3: With Aggregate Limit

• Option 4: Actual Expenses Incurred

• Occupational Diseases: Any compensation for diseases mentioned in Part ‘C’ of Schedule III of the Workmen’s Compensation Act, 1923, which arise out of and in the course of employment.