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Bajaj Allianz Workmen Compensation Policy

Bajaj Allianz general insurance company has introduced a workmen compensation policy to cover the legal liability of the employers in case of accidental injury or death of the workmen at the workplace or during the course of employment. There might be certain unforeseen circumstances which can lead to the injury or death of the workmen at the workplace even after taking necessary precautions. In such cases it would be the responsibility of the employer to compensate the workmen for their losses. This would mean that the employer has to pay from his pocket in case of absence of the workmen compensation policy which would not be viable for the employer for each and every case. Readmore...


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    There could be certain instances which require the employer to pay for the hospitalization expenses of the workmen due to certain diseases such as occupational disease or the compressed air disease. Bajaj Allianz general insurance workmen compensation policy provides protection to the employer against all the liabilities arising out of the workmen injuries at the workplace or during the course of employment.
    The policy is not only restricted to the workplace but also during the course of employment. For example if an employee is injured at the workplace then the workmen compensation policy would come into action, also if an employee is injured at some other place other than the workplace but in the course of his/her employment the same would be covered under the workmen compensation policy. For instance if your employee is visiting a customer’s place to show a demo or make a sale or on any official purpose and is injured at customer’s place then the workmen compensation policy would be applicable for compensation to be payable. View less...

    What is Included in Bajaj Allianz Workmen’s Compensation Insurance?


    Bajaj Allianz workmen’s compensation policy covers the following:



    The basic cover under the ICICI Lombard Workmen compensation policy include


    • Employees compensation due to an accidental injury or illness leading to death, permanent total disability, permanent partial disability and temporary total disability as per the Employees compensation act, 1923.
    • Common law in which the liability of the employer is secured by the insurance company as the liability under workmen compensation policy is unlimited. Under common law the employee can sue the employer for any amount and the court charges and litigation charges would be paid to the employer.
    • Occupational diseases cover on an employee basis where the per employee limit ranges from Rs. 1 lakh to Rs. 10 lakh. Aggregate liability of the company for all employees during the Period of Insurance shall be limited to 50% of the amount arrived at by multiplying per Employee limit with the number of Employees.
    • Contractors employees cover in which the employees of the contractors and sub contractors would be covered as per the Workmen compensation act, 1923.
    • Road ambulance cover which provides Rs.5000 per employee in the aggregate during the policy period. The road ambulance can be availed any number of times during the policy period up to the aggregate limit of Rs.5000 per employee during the policy period.
    • Transportation of mortal remains which provides Rs. 2000 per employee to transport the mortal remains from the place of death to the house of the employee or to the burial site. The limit per employee is Rs.2000 which is payable on an aggregate basis during the policy period.
    • Medical expenses cover which provides the medical claim expenses in case of hospitalization due to an injury or illness arising out of the workplace or during the course of employment. The sum insured under this cover ranges from Rs. 25k to Rs.10 lakhs.

    Benefits of Bajaj Allianz Workmen’s Compensation Policy




    Hand Vector Icon - High Claim Ratio Bajaj Allianz Workmen Compensation Policy High Claim ratio

    Bajaj allianz has a claim settlement ratio of 98% which is a measure of the claims settled by the insurance company to the claims received. This ratio indicates that 98 out of 100 claims were settled by the company during the previous year which is one of the best claim settlement ratios in the Indian insurance industry. The claim settlement ratio indicates the chance of settlement of claims. Higher the claim settlement ratio, higher would be the chance of your claim getting settled.

    Thumsup Vector Icon - Seamless Claim Settlement Bajaj Allianz Workmen Compensation Policy Seamless claim settlement process

    The other benefit of Bajaj Allianz Workmen compensation policy is the seamless claim settlement process it offers to its customers. Workmen compensation claims are settled within the short possible time if all the required details are submitted to the insurance company within the stipulated time period. Most of the claim settlement process is moved to online which even reduced the turnaround time of claim settlement.

    Hand Vector Icon - Competitive Premium Bajaj Allianz Workmen Compensation PolicyCompetitive premium

    The major benefit of Bajaj allianz workmen compensation policy is the competitive premium that it offers to its customers. Bajaj allianz is the leading general insurance company in India and offers the best competitive premium in the market with all the extra coverage. Low premium and high coverage is the main benefit of Bajaj allianz workmen compensation policy.

    Men in Hand Vector Icon - Comprehensive Cover Bajaj Allianz Workmen Compensation PolicyComprehensive cover

    The other major benefit of Bajaj allianz workmen compensaiotn policy is the comprehensive cover it offers. As mentioned above it covers the basic cover as well as other add-ons such as ambulance cover, mortal remains cover, medical expenses cover etc on payment of additional premium. Any of the above mentioned covers can be chosen by the customer and premium is to be paid accordingly.

    Exclusions in Bajaj Allianz Workmen’s Compensation Insurance


    There are certain exclusions under the Bajaj Allianz workmen compensation policy
    which would not be covered under the policy. The exclusions are mentioned below



    Any injury by accident or disease directly attributable to war, invasion, act of foreign enemy hostilities, civil war, mutiny, insurrection, rebellion, revolution or military or usurped power.
    The insured’s liability to employees of contractors to the insured.
    Any liability of the insured which attaches to virtue to an agreement but which would not have attached in the absence of such agreement
    Any sum which the Insured would have been entitled to recover from any party but for an agreement between the Insured and such party
    Bajaj Allianz Workmen compensation policy requirement in proposal form

    Bajaj Allianz workmen compensation proposal form can be downloaded from here. Bajaj Allianz workmen compensation policy requires the following to be filled in the proposal form

    • The name of the proposer, address and the occupation of the proposer.
    • Particulars of the details to be covered under the policy
    • Risk location address
    • Policy period- From and To
    • Coverage required including the add-ons
    • Own employee details as well as contractual employee details
    • Questions regarding the risk to be covered

    Awards and Achievements of Bajaj Allianz




    Trophy Vector Icon - EFMA & Accenture Innovation Bajaj Allianz Workmen Compensation Policy Bronze award at EFMA & Accenture Innovation in Insurance awards 2022.
    Trophy Vector Icon - Technology Senate Awards 2022 Bajaj Allianz Workmen Compensation Policy Award in Enterprise application category at the Technology Senate Awards 2022
    Trophy Vector Icon - Emerging asia awards 2021 Bajaj Allianz Workmen Compensation PolicyNotable award at the Emerging asia awards 2021.

    Key Statistics of Bajaj Allianz Insurance


    Bajaj Allianz general insurance has


    Global Vector Icon - Network Bajaj Allianz Workmen Compensation Policy

    6500+
    Network

    garages

    Geo Tag Vector Icon - Network Hospital Bajaj Allianz Workmen Compensation Policy

    8000+
    Network hospital

    Calling Vector Icon - Claim Assistance Bajaj Allianz Workmen Compensation Policy

    24*7
    claim assistance

    Car Vector Icon - Motor Insurance in 3 Minutes Online Bajaj Allianz Workmen Compensation Policy

    Motor insurance
    in 3 minutes online


    Common FAQs


    In India any organization with more than 20 employees should mandatorily have workmen compensation insurance. This was mandated by the Employees state insurance act, 1948 which ensured that employees and workers received insurance benefits from their employers. The companies with less than 20 employees can avail the insurance to comply with the rules and regulations mentioned under the Fatal act, 1855 and Workmen compensation act, 1923.