Workmen Compensation Insurance Policy Coverage

Workmen s compensation insurance policy covers statutory liability of an employer for death or bodily injuries caused to employees due to accidents arising out of and in the course of employment.

Workmen compensation insurance policy coverage. 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. It is also known as the employees compensation amendment bill employer s liability insurance and worker compensation policy. Please refer policy wordings for detailed coverage exclusions and conditions. It also covers bodily injuries by disease occupational diseases such as asbestosis that are caused or aggravated by the conditions of employment.

Workers compensation coverage continues to grow in every state according to the most recent statistics from the national academy of social insurance in the two year period between 2015 and 2017. It assures that injured workers get medical care and compensation for a portion of the income they lose while they are unable to return to work and it usually protects employers from lawsuits by workers injured while working. The workmen s compensation insurance is the primary method by which an employer can demonstrate the ability to. 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.

If you are an employer you are required to buy work injury compensation insurance for. The workmen s compensation act 1952 is modelled on the united kingdom s workmen s compensation act 1906 adopted before malaysia s independence from the uk it is now used. Workers accident compensation insurance is managed by the labor standards office. All employees doing non manual work earning a salary of 2 100 or less a month excluding any overtime payment bonus payment annual wage supplement productivity incentive payment and any allowance.

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. The workmen s compensation insurance policy provides for legal liability coverage for compensation to your employees for bodily injury or death caused due to accidents occupational diseases arising out of and in course of employment. Workers accident compensation insurance is paired with unemployment insurance and referred to collectively as labour insurance. All employees doing manual work regardless of salary level.

When they do workers compensation insurance provides coverage. Workers compensation insurance covers bodily injury by accident that occurs during the policy period. Who needs to be insured.