Top 5 Things Employers Should Know About Workers Compensationby Jemes Husen Recommended Homeowners & Auto Insurance Services i
In United States (U.S), every employer with a fewer exceptions, has to purchase the worker’s compensation insurance. It’s a state-regulated insurance that endows employees the mandated medical and lost wage reimbursement who get injured during the course and span of their service.
Exceptionally, small companies that don’t have the required number of employees don’t get this insurance. Companies that are not complied with the state’s requirements are subject to be charged with the decided economic penalties and possible criminal prosecution. There’s a chain of workers’ compensation insurance programs you can purchase from the employer’s risk finance standpoint.
It’s not just mandatory but it’s a law
Many employers find it a compulsion or a pressure but it’s exactly the same. State law governs worker’s compensation and they are in every state to protect the employees against the lost of their income, medical payment due to the work related injury, illness, accident or any disease. Every state has its own criteria. Some states offer a statewide workers' compensation program while others rely on the private insurance providers.
Worker’s compensation protects your organization- Usually workers’ compensation insurance Massachusetts protects your employees from the medical costs for the illness incurred by a work related injury. On the other hand, it also protects your company by protecting your employees from the gratuitous medical bills. This proves beneficial for because the insurance company not by you compensates employers for their illness.
There are exemptions
rules of WCI (workers’ compensation insurance) vary from state to state and not
all the employees are covered by the workers compensation insurance. This coverage is largely mandate for the full
time employees but part-time workers or contractors may be not liable.
Most of the workplace injuries are covered on a no-fault basis
WCI covers most of the on duty injuries on a no-default basis. Employee is paid regardless of who’s to blame for the accident neither employer raise any issue in that case and he is paid for the compensation that is appropriate.
Some accidents outside the workplace accidents are also covered
Largely, your business is not liable for the accidents taking place after work hours. However, there are many situations when a worker is covered outside the workplace. Employees will be covered if they are injured while travelling for company’s work, running a work related task, or attending any social meeting, show, or event that relates to the business. In other words, if you are injured outside the office during working hours or for business related work then you will be compensated.
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