Workers Compensation
Workers Compensation Is Required
While state statutes vary, workers' compensation insurance is required by law in most states. If a business does not carry this coverage, penalties, such as a fine, may be applied.
What is workers’ compensation insurance?
Workers' compensation insurance provides coverage for on-the-job injuries or work-related illnesses suffered by your employees, such as a needle stick during a procedure or muscle strain due to prolonged overuse. Workers' compensation insurance provides access to quality healthcare providers. Coverage includes medical care, expenses, and ongoing costs, such as therapy, lost wages, disability benefits, and funeral expenses.
You can feel confident that your employees are cared for and that your business complies with state law.
How Can InsureGen Brokers Help My Business?
Whether your employee base is large or small, InsureGen Brokers can provide your business with the necessary workers' compensation policy coverage.
As seasoned insurance brokers, we partner with financially stable insurance companies that offer quality coverage, customer service, and claims handling. Get in touch with us today to find out how we can help you.
What You Need to Know About Workers' Compensation
Show your team you care by ensuring they have access to quality healthcare for on-the-job medical concerns.
Here is more information about workers’ compensation insurance to guide your decision-making:
Non-Work-Related Injuries & Illnesses
Workers' compensation policies do not cover injuries or illnesses outside of the workplace or are not directly related to the employee's job duties. These include self-inflicted injuries and illegal drug and alcohol intoxication. Laws and regulations may vary by state or jurisdiction, and specific exclusions can differ among insurance policies.
Owner Insurance
Some states allow business owners to exclude themselves from this coverage. In that case, we recommend purchasing individual disability and health insurance with the appropriate policy language included. Reach out to us for a detailed explanation of how to correctly exclude a business owner from workers' compensation coverage.
Other Benefits
Most insurance carriers offer comprehensive risk management materials specific to your industry, providing information on reducing workplace injuries and illnesses through safety procedures, first aid, prompt claim reporting, return-to-work protocols, etc. These safety resources can be online, videos, access to risk management consultants, or in-person visits.
How Much Is the Premium?
The premium is based on the work your employees do, the total annual payroll of all the employees, the number of employees, and the claims history.
Have more questions about what is workers' compensation insurance and why you need it? Schedule a call today and let’s discuss your concerns.
Demonstrate Your Commitment to Safety
Are you prepared to safeguard your business and employees in the event of work-related accidents or illnesses? Contact InsureGen Brokers now to learn more about how workers' compensation insurance can benefit your business and to get a personalized quote tailored to your needs.
