As the head of a company, it is important to be aware that by law, in most cases employees who are injured at the workplace have the right to both medical care and monetary payments to substitute the loss of income often suffered as a result of being temporarily or permanently unable to work due to the injurie(s) sustained. Furthermore, the majority of employers are legally required to subscribe to workers’ compensation insurance. Those who fail to do so can be subject to financial penalties. The outlook is more grim if an employee is injured on the job and the employer has not purchased workers’ compensation insurance, as the employee can sue the employer.
Workers’ compensation insurance is important to consider from the employee’s standpoint as well. Workers’ compensation supplements standard health insurance coverage, paying for costs associated with the work-related injury. Although there are laws in place that require employers to subscribe to workers’ compensation, not all employers heed these laws, and even if this type of coverage is available via the employer, in order to be eligible for these benefits the employee must prove that several factors were in place including negligence on the part of the employer.
Ultimately, for both parties, dealing with a workplace related injury without workers’ compensation insurance is costly and in some cases, carries legal ramifications. Workers’ compensation insurance can be very affordable.
To learn more, give us a call at (866) 764-2204 or fill out the form below and one of our licensed agents will follow up to speak with you in-depth about your options.