What is the Full Form of WC in Insurance?
The Full Form of WC in Insurance is Workmen’s compensation. WC is the primary method through which the employer will be able to demonstrate their ability to satisfy their obligations that are imposed owing to the worker’s compensation statutes. WC is the compensation that is payable under the scheme according to the Workmen’s Compensation Act of India.
What does WC cover?
This policy provides indemnity to the Insured if any employee in the Insured’s immediate service sustains bodily injury by accident or contracts disease as a result of and in the course of his employment by the Insured in the Business, and the Insured is liable to pay compensation for such injury either under. It also protects the businesses from lawsuits that are related to the injuries of the employees.
What does WC not cover?
The Workmen’s Compensation does not cover any injury caused by an accident or sickness that is directly related to war, invasion, a foreign enemy’s act, hostilities (whether declared or not), civil war, mutiny, insurrection, rebellion, revolution, or military or usurped power. Also, it does not offer any compensation for anyone who is not considered to be a workman within the jurisdiction of the laws.