Workers' compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
Workers' Compensation coverage applies to bodily injury and diseases arising out of and in the course of employment. Any bodily injury must be accidental, and the term includes death resulting from the accident. Only occupational diseases, which are unique to the occupation, are covered.
Workers' Compensation provides for the payment of four types of benefits:
- -Medical benefits
- -Income benefits
- -Death benefits
- -Rehabilitation benefits
A representative can provide you with complete details on Workers' Compensation Insurance and recommend cost-effective ways to control expenses through safety engineering and claim services.
Although Workers Compensation Insurance is a mandated expense for most employers, it is also an expense over which the employer is able to exercise a lot of control. Employers may implement Risk Management programs which promote safe work environments and safe work habits to minimize the injury exposure for their employees. Should a claim occur, employers still maintain a measure of control over the resulting costs through effective return to work policies.