Royal Sundaram Workmen Compensation Policy

Royal Sundaram Workmen compensation policy states that if any time during the period of insurance any employee or employees of the insured shall sustain injury by accident arising out of employment as well as during the course of employment in the business for which Employer is liable to pay compensation under any Laws specified in the schedule, then the company shall indemnify the insured up to the limit of indemnity against all such sums for which the insured is liable. Readmore...

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The liability of the insurance company also extends to the costs and expenses for defending any claim incurred with the company’s consent.
Royal sundaram workmen compensation policy states that the liability of the company shall be limited to such sum as the company would have been liable to pay if the laws have remained altered, this applies in case of any change in the law requiring the insurance company to pay more than the limit of liability.
Injury means any physical bodily injury including death as a result of an accident at the workplace or during the course of employment but does not include any mental sickness or diseases and occupational diseases unless caused by physical bodily injury.
Occupational disease means any disease contracted by an employee due to employment in the business. This includes all the illnesses or diseases but not limited to the diseases listed under Schedule III of the Employee’s compensation act, 1923.
Employee or employees means any such person directly employed under the insured in business, but would not include any person employed by a contractor or sub-contractor of the insured unless it is specifically mentioned in the schedule by an endorsement.
Limit of Indemnity means the maximum amount of Indemnity as specified in the Schedule that will be provided under this Policy by the Company in respect of a) any particular claim by an Employee b) all claims arising out of all accidents for any number of Employees during the Period of Insurance. View less...

What is Included in Royal Sundaram Workmen’s Compensation Insurance?

The policy provides cover for any employee injured by accident or disease arising out of employment and in the course of employment. The injury or disease may lead to death or disability which are both covered under the Royal sundaram workmen’s compensation insurance.
The legal liability of the employer in case of death or disability of the workmen at the workplace or during the employment course would be covered up to the limit mentioned in the policy.
The policy basically covers the liability of the employer under the Employee compensation act, 1923 under which the employee is held legally liable to pay for the injuries of his/her employees. In addition to this the policy also covers the legal liability of the employer under the Fatal accidents act, 1855 and at Common Law.
All the employees of the organization should be insured as per the provisions of the Workmen compensation act.
In case of public limited or government owned companies where employees can be covered section wise or unit wise or in the case of risk where the employees are covered under the ESI Act 1948, Table B cover can be issued for employees not falling under the definition of Employee as per WC Act 1923 as amended.
The policy is adjusted on the basis of the actual wages at the end of the policy period.

Table A: Under this section the legal liability of the employee would be covered for any injury to the employees at the workplace or during the course of employment under the Workmen’s compensation act, 1923 The fatal accidents act, 1855 and at Common Law.

Table B: This table covers the legal liability of the employer under the Fatal Accidents act, 1855 and at Common Law.

Conditions of Royal Sundaram Workmen’s Compensation Policy

Mis representation

For any misrepresentations or non-disclosure of information made in the proposal form, the policy shall be void and the insured is deemed to warrant the truth and accuracy of the statements and answers in the proposal which form the basis of the policy.

Written communication

Every notice or communication to be made under the policy should be delivered in writing to the company. No oral communication would be accepted by the company.

Safe guards

The Insured shall take reasonable precautions to prevent accidents and disease and shall comply with all statutory obligations, manufacturer’s recommendations and other safety regulations in conduct of the Business.

Forfeiture

If the Insured shall make any claim or connive in the making of any claim, knowing the claim to be false or fraudulent, the Policy shall become void and all claim will stand forfeited.

Maintenance of records of employees/Wages

The insured shall at all times maintain an accurate record of employees and their wages in respect of the business throughout the period of insurance, and allow the insurance company to inspect such records during or upon the expiry of the policy.

Average

Notwithstanding anything contained in the policy wordings,

If the number of employees employed by the insured on the date of accident, is higher than the number mentioned in the policy, then the company would cover insured’s indemnity in such a proportion that the number of employees covered bears to the employees found employed on the date of accident.
If the amount of wages declared in the policy is less than the actual wages paid at the date of accident, the company shall be liable to indemnify only in proportion that the wages declared bears to the wages paid.
If the liability of the Insured for any claim by an Employee is determined on the basis of Wages higher than that covered under this Policy, the Company shall be liable to indemnify only in proportion that the Wages covered under the Policy for the Employee/Employees bears to the Wages on the basis of which the Insured is held liable.
If more than one of the above clauses are found to be applicable in respect of claim, only such clause under which the liability of the company is least shall be applied.

Exclusions in Royal Sundaram Workmen’s Compensation Insurance

Any injury by accident or disease directly attributable to war, invasion and like perils
Liability towards contractor’s employees
Any liability attached due to an agreement,which would otherwise not have been attached in the absence of an agreement.
Any sum which the insured customer would have been entitled to recover from any party but for an agreement between the insured and the party.
For Occupational diseases contracted by the employees unless mentioned under the policy
Any interest/ penalty imposed on the insured under any law or otherwise
For injury sustained by a person who is not covered under the Workmen compensation policy.

Awards and Achievements of Royal Sundaram

Best BFSI Brand Award of 2021 awarded by Economic Times.

ET Award for Prompt GI Compact category in the Health segment

Celent Model insurer award for creating an intelligent claims management system

Key Statistics of Royal Sundaram Insurance

2.8 Crore + customers served till date

7000+ network hospitals to avail cashless claim settlement facility all over India

81.5% of all the claims paid or the claims settlement ratio

Common FAQs

How to purchase Royal Sundaram Workmen Compensation policy?

Royal Sundaram Workmen compensation policy can be purchased online from Ehtika insurance broking. Proposal form can be filled and the policy can be purchased on payment of premium.

Is it better to purchase a Workmen compensation policy from an insurance broker?

Royal sundaram workmen compensation policy can be purchased from Ethika insurance broking company as they have vast experience in offering Workmen compensation policies. An insurance broker would be well versed with the terminology of the Workmen compensation policy than any other insurance intermediary.