The benefits of New India Assurance Workmen’s compensation policy are mentioned below:
The Assault and battery shall be deemed an accident unless committed by or at the direction of the insured. Assault and battery are related but distinct crimes, battery being the unlawful application of physical force to another and assault being an attempt to commit battery or an act that causes another reasonably to fear an imminent battery.
The policy applies to only injury by accident occurring during the policy period and by disease caused or aggravated by exposure of which the last day of the last exposure, in the employment of the insured, to conditions causing the disease occurs during the policy period.
The notice of injury shall be communicated to the insurance company as soon as the injury has occured or brought to the notice of the insured. The notice of injury shall be in written form and contain particulars of the injury in detail such as time, place and circumstances leading to the injury.
The insurance company may cancel the policy by giving 30 days of written notice of such cancellation. In such cases the company will recover the pro rata premium for the unexpired policy period. The policy may also be canceled by the insured customer by giving 30 days written notice to the insurance company in which event the insurance company would recover premium at the customary short period scale, provided that there has been no claim under the policy. If there has been a claim then there would be no refund under the policy. The payment or tender of any unearned premium by the Insurer shall not be a condition precedent to the effectiveness of cancellation but such payment shall be made as soon as practicable.
The words "damages because of bodily injury by accident or disease, including death at any time resulting therefrom" in the Coverage Section, include damages for care and loss of services and damages for which the insured is liable by reason of suits or claims brought against the insured by others to recover the damages obtained from such others because of such bodily injury sustained by employees of the insured arising out of and in the course of their employment. Company’s total liability to pay compensation, Defense, Settlement Supplementary Payments shall not exceed the Indemnity limit stated in the schedule. Indemnity limit shall represent the total amount of company’s liability during the policy period. The limit of liability stated in the Schedule applies to company's liability for all damages because of bodily injury by accident, including death at any time resulting therefrom, sustained by one or more employees in any one accident.
The insured or any other person on the behalf of the insured can send the documentation, medical records and other information within 30 days of such loss to the insurance company. The company may be required to establish the circumstances of the claim, quantum of the claim or liability of the claim within 30 days after the date of such loss. The documents required for claim settlement under the Workmen compensation policy are mentioned below, the list is inclusive but not exhaustive.
TATA AIG Workmen compensation policy can be purchased online from Ethika insurance broking which is the leading insurance broking house in India. It provides sales support as well as claim settlement support. They have value addition programs such as red carpet claim assistance, employee engagement programs etc.
The premium of TATA AIG Workmen compensation policy can be calculated online from here. The premium would depend on the number of employees, wages of the employees and the coderage required under the workmen compensation policy. Higher the number of employees, higher would be premium payable under the policy. The premium calculation can be arrived at after finalizing the number of employees and the monthly wages. The premium should be paid at the time of purchasing the policy.