ICICI Lombard Workmen Compensation Policy

ICICI Lombard Workmen compensation policy compensates the employees or the workmen injured at the workplace due to unforeseen circumstances or their families in case of death of the workmen. The compensation payable depends on the type of injury and in certain cases the compensation is decided by the labor court depending on many factors such as the age of the workmen, monthly wages and other factors. Readmore...

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ICICI Lombard workmen compensation policy also covers the cost of medical expenditure incurred by the workmen due to an accident or illness at the workplace or resulting during the course of the employment, compensation for occupational disease, compressed air disease and terrorism.
ICICI Lombard workmen compensation policy covers the compressed air disease which would be caused by the difference in the air pressure than that of atmospheric pressure. The disease would affect the employees employed at high altitude areas or underwater.
As a person moves from a high pressure area to a low pressure area, the air’s gasses would get dissolved in the bloodstream forming bubbles throughout the body resulting in compressed air disease. ICICI Lombard workmen compensation insurance policy thus covers the workmen against such diseases which develop as a result of difference in the air pressure at the place of work or during the course of employment. ICICI Lombard workmen compensation policy can be taken by contractors or subcontractors, individual or private limited companies and public limited companies. View less...

What is Included in ICICI Workmen’s Compensation Insurance?

ICICI Lombard workmen’s compensation policy has basic cover
as well as add-on which can be purchased by paying additional premium.

The basic cover under the ICICI Lombard Workmen compensation policy include

Accidental death of the workmen in the workplace or during the course of employment
Permanent total disability of the workmen at the workplace as a result of an accident.
Permanent partial disability of the workmen at the workplace as a result of an accident.
Temporary total disability of the workmen at the workplace as a result of an accident.

The add-ons under the ICICI Lombard Workmen compensation policy include

Compressed air disease cover up to the specified limit mentioned under the policy
Medical extension cover with a fixed sum insured or actual medical expenses
Occupational disease cover
Terrorism cover
Sub contractor coverage

Benefits of ICICI Lombard Workmen’s Compensation Policy

Legal Expenses

The major benefit of ICICI Lombard Workmen’s compensation policy is that it bears the legal expenses of the insured customer in litigation, the amount awarded by the court and other expenses. It is important to note that there is no upper limit in the workmen compensation policy making it a beneficial plan instead of indemnity based plan. ICICI Lombard workmen compensation policy covers the claims payable which are awarded by the honorable courts.

Hassle free journey

ICICI Lombard workmen compensation policy can be purchased online from here in a very hassle free way without the trouble of going to the office of the insurance company.

Comprehensive and Flexible

The basic cover under the policy includes the death and disability of the workmen whereas the add-on cover includes compressed air disease, occupational disease, terrorism damage cover, medical extension cover, medical extension cover under which the sum insured option can be a certain limit or the actuals.

Swift response and efficient servicing of claims

The major advantage of ICICI Lombard workmen compensation policy is the swift response of the company in case of registration of a claim and handling of claims. The insured can call on the toll free number of the company to register the claim and within a few hours a call back would be arranged from the concerned department to understand the claim related details.

Awards and Achievements of ICICI Lombard

ICICI Lombard was awarded a "Bronze" in the "Continuous Campaign" category for their campaign "Ride to safety"

ICICI Lombard was recognised as one of the "20 best insurers in the Asia Pacific region" for 2020.

ICICI Lombard was awarded the "Best CSR Practices" award in 9th Edition World CSR Day Congress 8 Awards

ICICI Lombard was awarded with the "Insurance company of the year" in the Insurance Summit.

ICICI Lombard was awarded the "Most innovative insurance offerings" category for “AI enabled vehicle inspection facility" .

ICICI Lombard was awarded "India’s leading general insurance company - Private" in BFSI Summit Awards 2020.

Key Statistics of ICICI Lombard Insurance

ICICI Lombard general insurance has

283
branches

all over india

908
virtual offices

all over india

11247
network

garage

20863
network hospitals

with cashless claim settlement facility all over India

Common FAQs

What does Medical Extension add on cover?

Medical extension add-on cover provides for compensation to the workmen in case of hospitalization due to an illness, disease or an accident. The limit of sum insured under the medical extension cover can be selected by the insured customer at the time of taking the policy. The sum insured usually ranges from 10k to 2 lakhs depending on the insurance company. The medical coverage can also be the actual amount incurred by the insured employee due to hospitalization.

Does ICICI Lombard give Terrrorism Cover?

Yes. ICICI Lombard is offering terrorism cover as an add-on with the Workmen compensation policy. The add-on can be availed on payment of additional premium to the insurance company. Terrorism cover includes the injury or death of the workmen due to terrorist activites. The cover also compensates for disability due to terrorist activities.

What basic information the Insured needs to provide a quotation?

The basic information the insured need to provide for a workmen’s compensation quote is mentioned below:-

Number of workers to be covered under the Workmen compensation policy
Monthly wages of all the workers
Type of industry or the occupancy of the risk.
Nature of business operations.
Location of the risk
Insured basic details such as Name, Address, Contact details and other required details.

How is Sum Insured calculated in a Workmen compensation policy?

The sum insured is the maximum limit of liability in the workmen’s compensation policy. The sum insured would be calculated on the basis of the wages of the workmen for the period of insurance and the total number of workmen requiring the workmen compensation policy. The basic wages of the workmen employed by the insured determines the total sum insured under the workmen compensation policy.

What are the steps to get an ICICI Workmen Insurance Claim?

ICICI Lombard Workmen insurance claim can be availed in the below steps:

Step 1: The first step in the claim process is to intimate the injury or death of the workmen to the insurance company in writing so that a claim intimation number would be given to the insured customer.

Step 2: In this step the insurance company would ask the insured customer to submit the claim related details. Duly filled claim form along with the other details such as the attendance details of the injured employee should be shared with the insurance company.

Step 3: After the duly filled and signed claim form with other required details is submitted to the insurance company, the insurer would appoint a surveyor to inspect the claim and then decide on the merits of the claim. If the surveyor report states that the claim is genuine then the same would be settled within 7-15 days depending on the insurance company or if the claim is not settled then the customer can approach the labor court.

Step 4: In this step the labor commissioner would arbitrate for claim settlement and even if the insurer is not ready to pay the claim then the claim would be reported to the labor court where the court would give the ruling depending on the merits of the case. The labor court ruling would be binding on both parties concerned.