What is Workers Comp?Worker’s compensation insurance is sometimes called workman’s compensation insurance, worker’s comp, or workers liability insurance. Workers compensation insurance provides medical care and other benefits to employees who are injured on the job. Employees who are legitimately injured as a result of their work will receive benefits per their states law. Essentially workers compensation covers injuries or illnesses that result from a specific work-related accident, injuries or illnesses that occur over a period of time that are directly caused by their employment, or occupational diseases incurred from exposure to harmful substances in the workplace. A major key component for business owners [employers] is the employer’s liability coverage. This policy may provide defense and indemnification to a policyholder for a civil lawsuit (outside the jurisdiction of worker’s compensation) alleging damages for an employee’s work-related injury.
Who needs worker’s compensation insurance?Each state has their own laws regarding workers compensations insurance, however most businesses that have employees must have this coverage.
Most states require employers to provide employees with workers compensations insurance.
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