What is Ethika Insurance Broking?

Ethika Insurance Broking is a new age 100% bootstrapped insurance broking company started by a group of enthusiasts led by Mr. Susheel Agarwal, who made a transition from HR to CEO with Ethika Insurance Broking. Ethika Insurance aims to combine technology with Innovation to make employee health insurance simple and accessible. Ethika insurance has included the concept of Employee well-being and happiness in Employee health insurance, focussing on a well-ignored fact that happy employees perform better. Ethika Insurance Broking was conferred with a broker license to sell both life insurance and general insurance plans. Ethika Insurance Broker is recognised as the best insurance broker for corporate, small, midsize, and large businesses.

What are the services provided by Ethika?

Ethika Insurance Broking offers life insurance plans such as Term life insurance, Pension insurance, Group Life insurance, Investment insurance plans, etc. Ethika also offers non-life insurance plans such as Vehicle insurance, Engineering insurance, construction insurance, Health insurance, Liability insurance, Personal accident insurance, etc. Ethika Insurance Broking is well known for its Group plans, such as Group health insurance, Group Term insurance and Group personal accident insurance.

What are the value adds provided by Ethika?

Ethika Insurance Broking provides value additions to its customers in the form of tailor-made programs such as Employee wellness programs, Employee happiness programs, Employee assistance programs, Employee engagement programs, Group insurance software and Red carpet claims settlement services. Know about each of them in detail here.

Is Ethika Insurance a good choice for insurance needs?

Ethika Insurance Broking is not like any other insurance booking company in India as it tries to offer value-added services to its customers, such as the Employee Happiness Program, which is a unique and novel concept unheard of by the insurance industry in India. Ethika Insurance has a nearly 97% retention ratio, which is one of the highest in the insurance industry. This ratio means that most of the clients are willing to renew their insurance plans with Ethika Insurance, which in turn shows their trust in the company. In addition to these, Ethika Insurance offers all kinds of insurance plans so that customers can get all their insurance needs in one place. Ethika Insurance also makes the best use of technology with the group insurance software that can be linked to any company's HR portal, thereby semi-automating the addition and deletion of employees from the group insurance plans.

How is Ethika Insurance Broking different from other insurance brokers?

Ethika Insurance Broking’s main focus is to make the insurance process pleasant, as insurance has been considered a headache to go through for many people and firms in India for a long time. Ethika Insurance Broking revolutionized the insurance purchase and claim settlement process in India by focusing on adding the most important missing element in group health insurance: Employee happiness. Ethika’s main focus is to address the overall well-being of employees by conducting various activities in addition to insurance coverage. Ethika Insurance provides various value add-ons to clients which go beyond the traditional profit and loss view of an insurance broker.

TATA AIG Workmen Compensation Policy

TATA AIG Workmen compensation policy states that if any time during the period of insurance, any employee in the insured’s immediate service shall sustain injury by accident or illness or disease arising out of the employment and during the course of employment by the insured in the business and if the insured is liable to pay compensation for such injury either under the laws set out in the schedule or at common law subject to the terms and conditions of the policy. Readmore...

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The company will indemnify the insured against all such sums for which the insured would be liable under the Workmen compensation policy. The insurance company would require a payment in return for the coverage in the form of premium at the time of purchasing the policy.

In addition to the above the company would also pay for the litigation costs and expenses incurred by the insured with the written consent of the company in defending any claim for such compensation. The premium payable for the TATA AIG Workmen compensation policy would be decided by the company at the time of purchasing the policy. Provided that in the event of any change in the laws or the substitution of other legislation this policy shall remain in force but the liability of the company shall be limited to such sum as the company would have been liable to pay if the laws had remained unaltered.

The workmen compensation policy of TATA AIG provides compensation to the workmen of the employer in case of an injury resulting from an accident or illness at the workplace or during the course of employment leading to death or disability or hospitalization. The limit of liability of the company under the policy would be mentioned under the policy.
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What is Included in TATA AIG Workman's Compensation Insurance?
The policy covers the statutory liability of an employer for death or bodily injury of employees due to accidents or diseases or illnesses arising out of and in the course of employment. The key features of TATA AIG Workmen compensation policy are mentioned below:-

Death
Permanent total disability
Permanent partial disability
Temporary total disability
Additional legal costs and expenses incurred with the written consent of the company
Medical expenses cover which can be availed on payment of additional premium.

Exceptions of TATA AIG Workmen’s Compensation Policy

Any injury by accident or disease directly attributable to war, invasion, act of foreign enemy, hostilities, civil war, mutiny, insurrection etc.
The insured’s liability to the employees of contractors to the insured
Any liability of the insured which attracts by virtue of an agreement but which would not have attached in the absence of such agreement.
Any sum which the insured would have been entitled to recover from any such party but for an agreement between the insured and any such party.

Conditions of TATA AIG Workmen’s Compensation Policy

The benefits of New India Assurance Workmen’s compensation policy are mentioned below:

Assault and Battery

The Assault and battery shall be deemed an accident unless committed by or at the direction of the insured. Assault and battery are related but distinct crimes, battery being the unlawful application of physical force to another and assault being an attempt to commit battery or an act that causes another reasonably to fear an imminent battery.

Applicability of the policy

The policy applies to only injury by accident occurring during the policy period and by disease caused or aggravated by exposure of which the last day of the last exposure, in the employment of the insured, to conditions causing the disease occurs during the policy period.

Notice of injury

The notice of injury shall be communicated to the insurance company as soon as the injury has occured or brought to the notice of the insured. The notice of injury shall be in written form and contain particulars of the injury in detail such as time, place and circumstances leading to the injury.

Cancellation

The insurance company may cancel the policy by giving 30 days of written notice of such cancellation. In such cases the company will recover the pro rata premium for the unexpired policy period. The policy may also be canceled by the insured customer by giving 30 days written notice to the insurance company in which event the insurance company would recover premium at the customary short period scale, provided that there has been no claim under the policy. If there has been a claim then there would be no refund under the policy. The payment or tender of any unearned premium by the Insurer shall not be a condition precedent to the effectiveness of cancellation but such payment shall be made as soon as practicable.

Limits of liability

The words "damages because of bodily injury by accident or disease, including death at any time resulting therefrom" in the Coverage Section, include damages for care and loss of services and damages for which the insured is liable by reason of suits or claims brought against the insured by others to recover the damages obtained from such others because of such bodily injury sustained by employees of the insured arising out of and in the course of their employment. Company’s total liability to pay compensation, Defense, Settlement Supplementary Payments shall not exceed the Indemnity limit stated in the schedule. Indemnity limit shall represent the total amount of company’s liability during the policy period. The limit of liability stated in the Schedule applies to company's liability for all damages because of bodily injury by accident, including death at any time resulting therefrom, sustained by one or more employees in any one accident.

Documents required for TATA AIG Workmen compensation claims

The insured or any other person on the behalf of the insured can send the documentation, medical records and other information within 30 days of such loss to the insurance company. The company may be required to establish the circumstances of the claim, quantum of the claim or liability of the claim within 30 days after the date of such loss. The documents required for claim settlement under the Workmen compensation policy are mentioned below, the list is inclusive but not exhaustive.

Death Claims

Claim form
Original death certificate
Original or Attested post mortem report, if conducted
Attested copy of FIR, Spot panchanama & Police Inquest report, if applicable
Complete medical records including death summary, in case of hospitalization
KYC Documents

Disability claims

Claim form
Attending doctor’s report
Original disability certificate from the doctor
Complete medical records including Investigation/lab reports (X-Ray, MRI etc)
FIR, police report, wherever applicable
KYC Documents

Awards and Achievements of New India Assurance

Company of the year Award for health insurance during the Indian insurance awards

Best product innovation award in the general insurance category

Claims team of the year award at Claims award Asia.

Key Statistics of TATA AIG Insurance

7000+ Network hospitals all over India to avail cashless claim settlement service

24*7 claim assistance support

Registration and tracking of claim on the website

Common FAQs

How to purchase TATA AIG Workmen compensation policy?

TATA AIG Workmen compensation policy can be purchased online from Ethika insurance broking which is the leading insurance broking house in India. It provides sales support as well as claim settlement support. They have value addition programs such as red carpet claim assistance, employee engagement programs etc.

What is the premium of TATA AIG Workmen compensation policy?

The premium of TATA AIG Workmen compensation policy can be calculated online from here. The premium would depend on the number of employees, wages of the employees and the coderage required under the workmen compensation policy. Higher the number of employees, higher would be premium payable under the policy. The premium calculation can be arrived at after finalizing the number of employees and the monthly wages. The premium should be paid at the time of purchasing the policy.