Dear Seniors,
We currently have a Workman Compensation (WC) policy that covers 24 workers. With the recent expansion of our workforce by an additional 15 workers, management has received a more competitive quote from another insurance provider.
I would like to inquire if it is necessary to continue purchasing the WC policy from our existing provider for the new employees, or if we can split the policy between two providers—one for the existing workers and one for the new workers.
Additionally, I would like to understand if this arrangement might cause any issues in the future, particularly with respect to claim settlements, considering the policies are Pan-India based and do not specifically name individual workers.
Your guidance on this matter would be greatly appreciated.
Kind regards,
From India, Nashik
We currently have a Workman Compensation (WC) policy that covers 24 workers. With the recent expansion of our workforce by an additional 15 workers, management has received a more competitive quote from another insurance provider.
I would like to inquire if it is necessary to continue purchasing the WC policy from our existing provider for the new employees, or if we can split the policy between two providers—one for the existing workers and one for the new workers.
Additionally, I would like to understand if this arrangement might cause any issues in the future, particularly with respect to claim settlements, considering the policies are Pan-India based and do not specifically name individual workers.
Your guidance on this matter would be greatly appreciated.
Kind regards,
From India, Nashik
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Compensation policy.doc
COMPENSATION POLICY(Bilingua l)_v 1.1.pdf