Workers’ compensation insurance, or simply workers’ comp, is not just a legal requirement–it’s an investment in your staff’s security.
The precise rules vary from state to state, but the general rule is that your business must take out workers’ compensation insurance for employees that pays out if they are injured at work.
In principle, the workers’ comp payouts will cover medical bills, care costs and a portion of any lost wages. Plus, in the worst-case scenario, workers’ compensation insurance will cover funeral costs and death benefits.
There are often harsh legal penalties for businesses that don’t carry workers’ comp. But, aside from that, workers’ comp insurance can also help your business, as it makes sure staff get adequate medical treatment that helps them return to work fit and healthy.
Our insurance advisors are ready to help you determine the best method for obtaining proper workers’ compensation insurance for your business.