Oriental Insurance Workmen’s Compensation Policy Review

The Oriental insurance company offers workmen compensation policy with comprehensive coverage that can adequately secure your business and your most valuable assets, employees.

Oriental Insurance Company’s WCP

  Inclusions oriental insurance workmen compensationInclusions

Exclusions oriental insurance workmen compensationExclusions

Death

Compensation to dependents when the employee dies due to workplace accidents.

Any injury attributable to war, an act of foreign enemy, invasion, hostilities

Permanent/temporary or Full/partial disablement

Compensation for loss of wages

Insured’s liability for contractor’s employees or workers.
Medical expenses to treat the injuries caused due to workplace accidentsAny interest or penalty imposed on insured for not being compliant with the requirements laid down under Workmen Compensation Act, 1923
Legal expenses of the insurerAny liability of insured which gets attached by virtue of an agreement.

Maximum compensation payable

oriental insurance workmen compensation image 3Death: INR.120000 or 50% of monthly wages  to check

Permanent total/partial disablement: INR. 140000 or 60% of monthly wages to check

Temporary disablement: 25% of the monthly wages to be paid on a half monthly basis till 5 years or till the recovery-whichever is earlier to check 

Contributing factors in the premium calculation

oriental insurance workmen compensation image 4

  • Proposer’s occupation or trade
  • Nature of business
  • estimated number of employees
  • estimated total annual wages
  • Classification of employees
  • Limit of coverage required
  • The period for which the policy is taken 

 

Also read: National Insurance company’s workmen compensation policy review

Steps to Place a Claim

oriental insurance workmen compensation claims

  • Immediately notify the Oriental insurance company about the accident. Give the complete details of the incident (time, date, place and description of injuries etc) to an insurance company in writing.
  • Provide immediate medical care to the injured employee.
  • An insurer will appoint a surveyor to investigate the event in detail
  • Submit all the relevant documents along with duly filled claim form – medical certificates, FIR, death certificate, etc.
  • Once the insurance company reviews surveyor report and verifies all the claim documents, the intimation of claim status will be sent to you.

It’s imperative for any business to have a right and adequate amount of workmen compensation policy to cover the employees for their medical and rehabilitation costs in the event of workplace accidents. Avail Oriental insurance company’s workmen compensation policy to comprehensively protect your business and employees.

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