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
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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 accidents | Any interest or penalty imposed on insured for not being compliant with the requirements laid down under Workmen Compensation Act, 1923 |
| Legal expenses of the insurer | Any liability of insured which gets attached by virtue of an agreement. |
Maximum compensation payable
Death: 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
- 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
- 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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