Workers’ Compensation Insurance
Essential coverage for a safe, productive workplace.
What is Worker's Compensation Insurance?
Worker's compensation insurance is a type of insurance coverage that provides financial benefits to employees who are injured or become ill on the job. It's a mandatory requirement for most employers in the United States.
What Does Worker's Compensation Cover?
Worker's compensation typically covers the following:
Who Needs Worker's Compensation Insurance?
Most employers with employees are required to carry worker's compensation insurance. The specific requirements vary by state.
Benefits of Worker's Compensation Insurance
Factors Affecting Worker's Compensation Costs
Several factors influence the cost of worker's compensation insurance, including:
Worker's compensation insurance is a type of insurance coverage that provides financial benefits to employees who are injured or become ill on the job. It's a mandatory requirement for most employers in the United States.
What Does Worker's Compensation Cover?
Worker's compensation typically covers the following:
- Medical expenses: Pays for medical treatment, surgeries, rehabilitation, and medications related to work injuries or illnesses.
- Disability income: Provides partial wage replacement for employees unable to work due to work-related injuries or illnesses.
- Death benefits: Provides financial support to the family of an employee who dies from a work-related injury or illness.
Who Needs Worker's Compensation Insurance?
Most employers with employees are required to carry worker's compensation insurance. The specific requirements vary by state.
Benefits of Worker's Compensation Insurance
- Compliance: Avoids penalties and legal issues for non-compliance.
- Employee satisfaction: Demonstrates a commitment to employee well-being.
- Reduced liability: Protects your business from lawsuits filed by injured employees.
- Productivity: Helps maintain a stable workforce by providing care for injured employees.
Factors Affecting Worker's Compensation Costs
Several factors influence the cost of worker's compensation insurance, including:
- Industry: Some industries have higher risk levels than others.
- Number of employees: Businesses with more employees typically pay higher premiums.
- Employee wages: Higher wages generally result in higher premiums.
- Safety record: A strong safety program can lower your premium.
- State regulations: Worker's compensation laws vary by state.
