Employee Compensation
Insurance Policy

Coverage under the following laws:

• Employee Compensation Act, 1923
• Common Law
• Fatal Accidents Act, 1855

Provides coverage to all the employees of an organization against the following:

• Death
• Permanent Total Disablement
• Permanent Partial Disablement
• Temporary Total Disablement
• Legal expenses and cost incurred with the company’s consent

The death or injury should arise out of and in the course of employment. However, the policy also covers employees under the Doctrine of Notional Extension.

• Contractual Employees: There must exist an employer employee relationship between the insured and his employees. Employees belonging to the contractors of the principle are however not covered under the policy.
• Medical Expenses: Hospitalization expenses incurred by the employee are not covered under the policy
• Occupational Disease: Diseases mentioned in Part ‘C’ of Schedule III of the Workmen’s Compensation Act, 1923 are not covered under the policy
• Liability of the Insured assumed under an agreement
• Any injury which does not result in fatality or partial disablement for a period exceeding 3 days
• The first 3 days of disablement where the total disablement is less than 28 days
• Cumulative bonus for each claim free year

• Contractual Employees: Can be covered as an extension if they are specifically declared under the policy
• Medical Expenses: There are 4 options to choose from to cover your hospitalization expenses under the policy.
  • Option 1: With Per Employee and Aggregate Limit
  • Option 2: With Per Employee Limit
  • Option 3: With Aggregate Limit
  • Option 4: Actual Expenses Incurred
• Occupational Diseases: Any compensation for diseases mentioned in Part ‘C’ of Schedule III of the Workmen’s Compensation Act, 1923, which arise out of and in the course of employment.