Worker’s Compensation Insurance pays for all state mandated benefits, including medical expenses, a percentage of lost wages, replacement services for daily self- care, and even household chores if the employee is unable to provide for themselves. Most states include Employers Liability coverage in the Workers Compensation policy. Employers' liability protects the employer from lawsuits claiming an employee’s injury occurred due to the negligence of the employer.
Any company with one or more full-time employees is eligible to purchase a Workers Compensation policy. Depending on the number of employees, payroll amounts, the type of work performed and past loss history, some policies are more easily placed than others.
Coverage is statutory, meaning each state could have different laws governing the requirements for when Workers Compensation is mandatory. The fines and legal charges can be quite serious if your company does not comply. You should check your state’s requirements or give us or your agent a call to assist.
The employer must take the following actions to initiate the claim: