Workmen Compensation Insurance Policy

Workmen s compensation insurance also known as a workmen compensation policy covers medical costs and usually a percentage of the wages lost should an employee be unfit to work due to an illness or injury caused by or sustained while doing their job.

Workmen compensation insurance policy.

Workers compensation or workers comp formerly workmen s compensation until the name was changed to make it gender neutral is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee s right to sue his or her employer for the tort of negligence. Also known as employee compensation insurance or labour insurance this insurance enables an employer to demonstrate his ability to meet the. Workers compensation insurance is also called workman s compensation or workman s comp. Department of labor s office of workers compensation programs owcp administers four major disability compensation programs which provides to federal workers or their dependents and other specific groups who are injured at work or acquire an occupational disease providing the injured p wage replacement benefits medical treatment vocational rehabilitation other benefits other.

If the amount so paid shall differ from the amount on which premium has been paid. More details scope of cover. The workmen s compensation policy is the primary method by which employers can show their ability to satisfy the obligations imposed by the worker s compensation statutes. Workmen s compensation insurance policy policy wordings page 2 of 4 of all such wages salaries and other earnings paid during any period of insurance with one month from expiry date of such period of insurance.

A workmen compensation insurance policy is a commercial insurance policy that covers the legal liability of an employer to provide compensation to its workmen in case of their death or accident. The policy provides for two forms of insurance viz table a indemnity against legal liability to all employees whether or not coming within the definition of the term workmen under the w c act 1923 and subsequent amendment to the said act prior to the date of issue of the policy the fatal accidents act 1855 and at common law. Workmen s compensation insurance workers compensation insurance is mandatory for employers with more than a few employees in all states except texas. It is also known as the employees compensation amendment bill employer s liability insurance and worker compensation policy.