Worker's Compensation

Workers’ Compensation for Your Business

If you own a business, you know just how important it is to provide a safe workplace for your employees. But regardless of any precautionary measures you may take to keep accidents from occurring, they can still happen.

Regulations may vary from state to state, but any business that employs others should secure coverage. While the laws may differ based on your region, most likely, if your business employs four or more people, you will be legally required to get sufficient coverage to pay for medical bills, wages lost, and other expenses if one of your employees gets hurt on the job.

Workers’ Compensation Insurance provides income, medical benefits and rehabilitative services for workers who have become so while performing their work-related duties. It helps to cover injured workers and guarantees that they will receive financial compensation for medical care and for a portion of the income they lose while they are unable to work as a result of their injuries.

How Will this Benefit My Business?

It goes without saying that this valuable coverage will be of utmost importance to your injured staff member(s), but what does it mean for you and your business? Workers’ Compensation helps protect your business from any lawsuits initiated by your employees suffering injuries on the job.

In the Workers Compensation system, injured employees lose the right to sue their employers for job-related injuries in return for a statutorily imposed mechanism that provides specific scheduled benefits. Employers must insure their workers compensation exposure or become qualified self-insurers.

Employers must continuously provide for Workers’ Compensation benefits to all employees. For workers’ compensation purposes, an employee can include day laborers, leased and borrowed staff, volunteers, part-timers and family members, as well as most subcontractors.

As a responsible business owner, opting to remain uncovered is a risk you don’t want to take. When operating without insurance, you risk heavy fines for your business – and in the event of injury, will still end up having to pay the set benefits dictated by the law and possibly much, much more.

We recommend that you don’t skimp when it comes to selecting Workers’ Compensation coverage for your business. Taking that route could find you on the wrong side of the law resulting in financial penalties…or worse, the loss of your business and/or jail time.

Rely on our agents at Kamran Insurance to help you figure out the best way to optimize your operation to eliminate onsite risks and skillfully implement the most beneficial options for your business.