Workers' Compensation Insurance and Employee Negligence
Employees are one of the most important assets to any organization. Thus, ensuring their well-being and safety is the key to any organization's long-term success. Workers compensation insurance helps organizations fulfill this requirement. Let us begin with the Workers Compensation Act of 1923.
Thank you for showing your interest in workmen-compensation-policy. Our relationship manager will call you to discuss the details and share the best quotes from various insurers. In case you have any query or comments, please contact us at firstname.lastname@example.org
Workers' Compensation Insurance and Employee Negligence
What is the Workers Compensation Act, 1923?
The Workers Compensation Act, 1923 is an employee compensation act. Under this act, employers are required to financially compensate their workers in case of an event such as a fatal accident or injury that happens during employment. The dependents of the employees are entitled to financial support if they die or are rendered disabled due to an accident or injury. Employers are also required to compensate for specific occupational diseases caused during the working hours.
This act primarily applies to workers working in factories, plantations, mines, construction sites or other dangerous occupations. It may also cover employees from the railway department and those in similar capacities.
In case of death and disability, the maximum and minimum ranges of compensations are fixed and are subject to regular revisions.
What is Workers Compensation Insurance?
No matter how many preventive measures you take at your workplace, accidents can sometimes be inevitable. A Workers Compensation Insurance can provide your employees with financial compensation in case of any unfortunate event.
Workers Compensation Insurance, also known as Workmen's Compensation Insurance or Employees Compensation Insurance is a type of commercial insurance policy that provides coverage for your employees who are disabled, injured or lose their lives due to their jobs.
Employee Negligence and Workers Compensation Insurance
Employees or workers have a duty to their employers to carry out their jobs with utmost care in order to avoid any harm, accidents or injury. Employee negligence may occur when an employee cannot fulfil this duty, causing some form of damage or harm.
A Workers' Compensation Policy is a safe route to help employees be compensated for damages or injury. In most cases, however, the insurance companies do not cover damages caused due to employee negligence.
Situations When Employee Negligence is Not Considered for Compensation
A Workmen Compensation Insurance claim can be termed invalid in the following situations.
If the employee is under the influence of alcohol or drugs and sustains an injury at the workplace, it will not be considered a legitimate claim
If the employee sustains an injury as a result of any act of intentional self-injury. Then it will not be covered under Workmen Compensation Insurance
If the employee neglects the safety protocols as set by the company
If the employee is involved in any unlawful activity while at work, the claims are not considered legitimate
The Workmen Compensation Insurance is extremely helpful for businesses, as it can help protect them from high compensation amounts and lawsuit expenses. For employees, it protects them from financial setbacks suffered due to a disability from an accident at work. Policybazaar offers end-to-end technology that enables a quick and seamless process for overall employee benefits and insurance, catering to your business needs.
Thank you, PolicyBazaar, for providing such a positive experience and ensuring that well-being of my employees and business!
4 June 18, 2023
Provides Financial Security
I purchased Workmen Compensation Insurance from PolicyBazaar for my business owner looking to secure their employees' welfare and protect their business interests.Thankyou. Worth buying.
3.8 June 08, 2023
I purchased Workmen compensation plan which turn out to be the good decision. Thanks PB.
4.3 May 26, 2023
I recommend purchasing Workmen Compensation Insurance from Policybazaar. Their user-friendly platform, diverse policy options, exceptional customer support and efficient claims processing make them stand out from the competition.Thanks. It was a good decision.
4 May 21, 2023
I recently bought Workmen Compensation Plan at policybazaar website which provides comprehensive coverage giving me peace of mind knowing that my employees are well protected in case of any unfortunate event.Thanks.
3.8 May 16, 2023
The team at PolicyBazaar were responsive, courteous, and extremely knowledgeable. I had a few questions regarding the coverage terms and the representatives were patient in addressing all my queries. Thanks.
4 May 11, 2023
When it came to selcting the right Workmen Compensation Insurance, Policybazaar offered an impressive range of options from reputable insurers. I appreciated the comprehensive details avalable for each policy which helped me to take the better decisions. Thankyou.
3.8 May 06, 2023
I recently purchased Workmen Insurance plan from PolicyBazaar. The process was straightforward and I felt well-informed throughout, thanks to the clear and concise information provided.
4.3 May 01, 2023
I am absolutely delighted with the Workmen Compensation Insurance policy I purchased through Policybazaar. From start to finish, the entire experience has been nothing short of exceptional. I can confidently say that this is one of the best decisions I have made for my business.
3.8 April 30, 2023
Instant Protection Against Accidental Misshappening
I bought Workmen Compensation Plan from the Policy bazaar website online for our workers in my industry to get protetion aganst any Accidental miss happening caused to them. It offers amazing deals which provide them with medical coverage and help me to get instant protection against any loss. Thanks, PolicyBazaar.
+Premium varies on the basis of Occupancy, Business Activity & Coverage Type
Wait! Didn't find what you were looking for?
Our certified business insurance experts are just a call away.
Your call has been scheduled successfully.
Our experts will provide you assistance with your insurance coverage. Be assured, all your questions will be answered
Policybazaar is registered as a Direct Broker | Registration No. 742, Registration Code No. IRDA/ DB 797/ 19, Valid till 09/06/2024, License category- Direct Broker (Life & General)
Visitors are hereby informed that their information submitted on the website may be shared with insurers.Product information is authentic and solely based on the information received from the insurers.