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Employee Compensation Liability Insurance safeguards organisations from the risk of costly lawsuits and substantial compensation payouts. This policy covers an employer's legal liability for the death, bodily injuries, or occupational diseases sustained by employees during the course of their employment. The compensation is paid in accordance with the scheme outlined in India's Employee Compensation Act, overseen by the Ministry of Labour.
The policy provides coverage for:
This insurance is essential for organisations to comply with legal requirements and ensure financial protection against employee compensation claims.