Workers Comp
Workers’ compensation insurance, often called workers’ comp, covers medical expenses and a portion of lost wages for employees who are injured or become ill on the job. Coverage may also include rehabilitation services and death benefits.
Employees are eligible for benefits when an injury or illness is directly related to their job duties. This can include incidents such as lifting injuries, slips and falls, or more severe events like fires or explosions.
If an injury occurs outside the scope of employment, such as during a non-work-related activity, workers’ compensation coverage does not apply.
3 Ways Workers' Comp Insurance Protects Your Business
Workers’ Comp can help pay for medical expenses and missed wages for employees who are hurt on the job. In the death of an employee, the policy can cover funeral expenses.
Most states require employers to carry Workman’s Compensation Insurance as soon as they hire their first employee.
If your employee suffers an injury on the job that your state doesn’t require Workers’ Comp insurance to cover, the employee could sue you to recover their medical expenses.
Remember…
Workers’ compensation is an auditable policy, meaning the initial premium is based on estimated payroll for the upcoming policy period. At the end of the term, an audit is completed to ensure the final premium reflects actual payroll.
State regulations and governing bodies require these audits to confirm that employers are paying based on their true level of risk and exposure.
Get in touch with one of our agents today at (262) 784-0644.