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.
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.
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.
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.
There are certain exclusions under the Bajaj Allianz workmen compensation policy
which would not be covered under the policy. The exclusions are mentioned below
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
Bajaj Allianz general insurance has
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.
Yes you can purchase a workmen compensation policy online from Ethika insurance broking which has tied up with all the insurance companies offering Workmen compensation policy. The process to purchase a workmen compensation policy is made simple by Ethika insurance broking company.
Workmen compensation policy is a mandatory policy for any organization having workmen and the policy comes with basic cover as well as add-ons such as compressed air disease, medical expenses etc. These covers cost extra bucks to the insured customer and therefore it is advisable to take an insurance expert's advice at the time of purchasing the workmen compensation policy. Ethika insurance broking can provide proper advice in terms of workmen compensation policy and let you decide the best cover by combining the add-ons with the basic cover.
There is no difference between the employee compensation policy and workmen compensation policy. It was known as employee compensation policy when it came into effect and later it was changed to Workmen compensation policy and the meaning of workmen is defined under the Workmen compensation act, 1923.