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As an Employer, You Need to Have Workers Comp Coverage
By OnTopic | December 23, 2009
Workers compensation coverage is mandatory in every state throughout the country. It is coverage that provides medical care for the employee if they get injured on the job. Also, this type of insurance protects you from an injury lawsuit that might be brought on by the employee.
Workers compensation coverage can extend to other incidents besides accidents on the job. The coverage of workers comp insurance companies may safeguard the employee elsewhere in addition to the job site, up to and including automobile accidents while working for you. It does not have to happen while on business property. Ailments may be provided for as well.
The workman’s compensation insurance pays your employee for his or her time missed from work after accident, no matter who is to be at fault for the injury. In addition to the benefits mentioned above, the coverage also provides a payment in case of death to the injured worker’s family. Each state has laws regarding workers compensation and each law is unique to each state.
When a business is looking for worker’s compensation insurance company, they must purchase the coverage independently from property or liability types of coverage. BOPs, also known as business owner’s policies, are usually offered as insurance policies, however, these policies don’t come with the required coverage for hurt employees. Workman’s comp is offered as an individual policy.
The entire concept of workmans comp ins dates back to the start of the 1900′s. Americans determined there had to be a necessity for employees to be safe from on the job accidents and needed to be paid for any accidental injuries which came about while on the job. This was a consequence of the community’s shock in regards to poor operating environments in addition to the risks which accompanied some jobs.
Workman’s compensation has been around longer than either unemployment and social security insurances. Most states adopted it around the start of the 20th century, when California enforced it. It’s a kind of ‘no-fault’ coverage because nobody has to prove the liability of the parties involved.
Some of the services that may be obtained, depending upon your situation, are disability coverages, work rehab, supplemental work displacement coverage, fixed disability benefits, short-term disability coverage, as well as death benefits.
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