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The Workmen (Employee’s) Compensation Policy

In an unfortunate event of an Employee suffering a bodily injury (temporary or permanent), or death during employment, Employer is legally liable to pay compensation to the Employee under the Employee’s Compensation Act 1923, The Fatal Accidents Act 1855, and at Common Law.

The policy covers statutory liability of an employer as per above laws for the death of or physical injury or occupational diseases sustained by the workmen arising out of and in course of employment. The Act provides a very wide meaning for the term ‘arising out of and in course of employment’ (for example a workman starting from his house to the workplace is treated as in course of employment). Death of or injuries arising out of an employee’s own negligence are also treated as ‘arising out of employment.

  • The Benefits under Common Law the liability is unlimited
  • The Employees covered under ESI Act need not be covered under this policy
  • Additionally, legal costs and expenses incurred can be covered with the Insurers consent
  • Death
  • Permanent total disablement
  • Permanent partial disablement
  • Temporary disablement
  • Occupational Diseases
  • Policy can also be extended to include medical expenditure for necessary treatment
  • Policy can be extended to cover the Contractors Employees
  • The Insured’s liability to contractors’ employees (unless specifically declared and covered)
  • Any liability of the Insured which attaches by an agreement, but which would not have attached in the absence of such agreement
  • This insurance does not cover any interest and/or penalty which may be imposed on an insured because of the failure to comply with the requirements of the said Workmen’s Compensation Act, 1923 as amended.
  • Premium rates are based on the nature of duties performed and based on annual estimated wages disbursed to the workmen

Difference between WC and GPA Policy

Workmen Compensation - Labour Insurance Policy

  • A policy to protect the employer against his liability from the workmen compensation act as well as fatal Accidents and common Law.
  • Payable for accidents/diseases arising out of and during the course of employment.
  • Payable even if the workman was under the influence of drinks/drugs or He has disobeyed safety Regulation i.e out of the employee’s negligence
  • Compensation that would be due is fixed by the Tariff. It is calculated on the basis of the severity of the event. The age of the employee and the wage of the employee.

Workers group personal accident policy

  • A policy benefits the employees in case of an unforeseen event.
  • Payable if the insured dies or sustains any bodily injury resulting solely and directly from accident caused by external, violent and visible means whether due to employment or otherwise.
  • Not be payable under the Personal accident cover.
  • An employer can choose the sum insured which can be a multiple of the salary or a graded cover according to the designation.