Worker Compensation Insurance
Worker’s Compensation is money paid out to a staff member from the company if there are wages lost owing to them not being able to work.
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What is Worker’s Compensation?
Worker’s Compensation is money paid out to a staff member from the company if there are wages lost owing to them not being able to work.
Who gets Worker’s Compensation?
Staff who are unable to work due to injury or illness caused by the workplace can claim for worker’s compensation.
Who benefits from a business having a Worker’s Compensation policy?
The staff benefit because they know that their livelihood is protected if they are hurt at work. They also know that the workplace cares about their well-being.
This builds loyalty to a business which is why the workplace benefits too.
The business benefits from having a policy like this because it deters workers from suing for damages or loss of income in the event that they are hurt.
The trust and loyalty from the staff also benefit the company because they work harder and more effectively which improves productivity and overall income for the business.
What does Worker’s Compensation cover?
- If a staff member is temporarily or permanently disabled due to the work they do then the compensation policy will partly reimburse them for wages lost.
- If a staff member is hurt then the compensation policy will cover medical costs of doctors, medication, hospital stays, testing, and care.
- If a staff member is hurt and cannot function in their current line of work then the compensation fund pays for rehabilitation and retraining for a new skill set so they can live a fulfilled life.
- If a staff member is hurt and legal staff are required to intervene then their expenses are covered by the compensation policy.
- In the horrible event that a death occurs, the compensation policy will provide a death benefit to the partner and underaged children of the deceased.
Accidents can undo everything you have worked so hard for. Contact us so we can help you protect yourself and your employees with a Worker’s Compensation Policy.
What if I am in a risky business (i.e. roofing)?
Every business needs workers compensation, not only is it the law, its the right thing to do. However, when you are in risky businesses like roofing, marijuana growing, tree removal, hazmat transportation etc. this can be a daunting task. Most admitted carriers will not insure these types of risks.
Not to worry, Betters Insurance has the market access to ensure you have access to cover your risk, no matter how dangerous the risk is we likely have the ability to place your coverage!
Thus, keeping you compliant and safe!
