Page 215 - Liability Insurance IC74

Guide for Liability Insurance

Act 1855 and (iii) the Common Law.

Table a policy can be issued to all implies coming within
the provisions of the WC Act.

Table B: indemnity against legal liability under (i) the
Fatal Accidents Act 1855 and Common Law.

Table the policies cannot be issued to cover employees
who fall under the definition of 'Workmen' under the
WC Act 1923 as amended.

The premium rates are in rupees per mille and are to be
calculated on the total earnings of the employees. In
certain cases, however the rates are quoted per capita
e.g, domestic servants in private residences.

The terms 'earnings', 'wages', 'salaries' are defined to
mean the employees total remuneration including
overtime value of boarding and lodging, housing
accommodations, bonus and all other benefits which can
be estimated in money. Contributions of the employees
or pension, provident fund, income tax deducted at
source are not to be deducted from the total earnings.

Sashi Publications - www.sashipublications.com 211

Copyright@ The Insurance Times. 09883398055 / 09883380339