Take care of those who take care of your business.
When a work-related injury or illness arises, workers’ compensation insurance protects both employees and employers. One part of the policy provides financial protection to workers and/or their families who are injured, become ill, or are killed as a result of a work-related event. The other part protects the employer because employees cannot bring lawsuits against their employer for medical expenses if a workers’ compensation policy is in force.
Workers’ compensation insurance is required by law in almost every state. These laws are designed to ensure payment by employers for some part of the cost of injuries, or in some cases, of occupational diseases, received by employees in the course of their work. Workers’ compensation insurance can also protect your business from being sued by employees for workplace conditions that can cause an injury or illness.
This type of insurance is beneficial if…
In almost every state, workers’ compensation rates are regulated by the state. The primary factors that will affect your workers’ compensation costs are: