What Does Workers’ Compensation Cover?
Do you know the essentials about workers’ compensation?
Every business has its own unique set of risks and dangers when it comes to working employees. Therefore, every business owner should know what workers’ compensation insurance can do for the company and employees! Your business is one hundred percent responsible for providing workers’ compensation benefits, so it’s important to ensure it is quality coverage.
Workers’ Compensation 101
Workers’ compensation protects workers from workplace injuries, repetitive stress injuries, and occupational diseases.
This coverage can help your business pay for:
- Work-injured employees’ medical and recovery expenses
- Replacement wages when employees can’t work because of a covered injury or illness
- Dependent support payments and funeral expenses when fatal occupation injuries occur
- Liability expenses when your business gets sued over work injuries.
Employees who are injured or disabled on the job receive a fixed monetary reward and, in exchange for the acceptance of this aid, cannot sue the business.
What Your Business Needs to Know
Workers’ compensation covers most injuries that occur on the job, on a no-fault basis. This means that benefits are paid regardless of who is to blame for the accident or injury unless the employee’s conduct violates company policy. In this case, coverage may be excluded.
Coverage can extend to an employee traveling for company-related business, running a work errand, or attending a business social event. With these events included in the insurance, make sure that your business has quality coverage.