What is workers’ compensation insurance?
Workers’ compensation insurance is coverage for employees’ work-related injuries or illnesses and is required in almost every state. Workers’ compensation insurance generally covers medical expenses, lost wages, rehabilitation services, and death benefits. Workers’ compensation insurance is known by many names from workman’s compensation, workers’ comp, workman’s comp, and others.
Workers’ Compensation Insurance-Benefits For Employees
Mandatory workers’ compensation insurance is invaluable to both you and your employees. It can help cover medical bills and a portion of lost wages for employees that are injured or become ill due to work-related events. It can also help cover funeral expenses if the work-related event results in a death.
Workers’ Comp-Benefits For Your Business
Accidents happen, but workers’ comp provides your business with a safety net that helps prepare you for the unexpected. In addition to helping cover medical bills and lost wages, the coverage may help with vocational rehabilitation services to assist getting your employee back to work. It can also help with legal costs in the event of a lawsuit.
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