Workplace accidents are all too common – it is imperative to have workers’ compensation insurance to protect your business. Contact Keep Insurance today for an insurance quote.
Workers Compensation Insurance
Workers’ compensation insurance provides coverage for work-related illness and injury. All states require employers to carry this insurance, which will provide ill or injured employees with fixed payments to support them while unable to work.
What Is Workers Compensation?
Workers’ compensation benefits are designed to streamline the handling of work-related injuries or illnesses. Typically, workers’ compensation offers fixed remedies to employees who have suffered from work-related incidents without being required to prove their employer as being “at fault”. Consequently, the need for costly, damaging litigation is generally significantly minimized. In this way, providing worker’s compensation benefits funded by a robust workers’ compensation insurance package (including medical care, temporary disability, rehabilitation, etc.) can be advantageous to all parties involved.
What Does Workers Compensation Insurance Cover
Although workers’ compensation insurance will cover most on-the-job injuries and/or illnesses that have developed as a result of working conditions, there are some instances when benefits can be denied. For instance, if an employee’s injury was self-inflicted or was caused due to the usage of alcohol or illegal substances in the workplace, exceptions can be made to avoid awarding any worker’s compensation services. It is wise, therefore, for employers to require drug testing immediately after an injury occurs, wherever possible.
Most states require employers to carry at least some level of worker’s compensation insurance so that employees can quickly be compensated for any incidents or illnesses that arise out of the workplace. There are, however some exceptions to the rule.
- In several states, worker’s compensation is not required for businesses with an employee count below a designated number.
- Additionally, the Federal Employment Compensation Act may apply to the majority of federal employees, and the Longshore and Harbor Worker’s Compensation Act may cover certain private maritime workers.
It’s wise to purchase and maintain workers compensation insurance that will meet minimum requirements for your local area and/or field. If you’re an employer, be sure to inquire with your local New York insurance agent to confirm what your coverage requirements are.