When do businesses need workers compensation insurance?

Workers compensation insurance - Work injury claim form
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In many cases, this coverage is state mandated, so companies need to know when it applies to them.

Workers compensation insurance is a type of policy that covers claims related to injuries employees sustain while on the job, including lost wages, medical expenses, rehabilitation, death benefits and more. As such, this type of coverage is typically meant for any company that has employees. It can be quickly and easily obtained from a reputable company such as Embroker.

These types of claims are exceptionally common, and coverage is often required by law.

Workers’ compensation covers the types of claims that arise when an employee gets hurt or is killed on the job. Common types of claims can include slips and falls, injuries from lifting or dropping things, and many other types of unfortunate incident. These risks are ever-present and businesses need this coverage to be able to protect themselves from the costs associated with incidents that happen during the course of a worker’s employment.

This type of policy presents an advantage for both the company and its employees. In the majority of cases, an employee receives the payments in exchange for giving up the rights to sue the employer over an injury that occurred at a workplace while on the job. The employee benefits because they receive compensation for their injury, the medical expenses they accumulate, lost wages for time during which they cannot work, and so on.

It’s important for businesses to purchase required workers compensation coverage.

Furthermore, it is also important for businesses to know what to do if an employee is injured. By having proper procedures in place and following them, a company substantially reduces the risk of a rejected claim.

An employee who has sustained an injury while on the job will need to provide a supervisor with detailed information about the injury. This will need to include specific information such as the date and time of the event, and the nature of the injury that occurred. From there, a formal workers’ comp claim should be submitted.

Workers compensation insurance - Work injury claim formAfter that point, the employer needs to provide the injured worker with appropriate legal guidance and the necessary paperwork for filing a claim with the workers compensation insurance company. During this time, the employer is required to ensure that the process occurs as per state legislation for work injury reporting.

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