There is no denying the fact that success of a business depends on the hard work of the employee team but one disaster can wipe out your efforts and bring down the profits to dust. So, to avoid such an instance, you need to insure your business, whether it is a small enterprise or a large corporation.
Workers Comp Insurance is one type of insurance that can not be avoided. The purpose of Workers Comp Insurance is to following an on-the-job injury, make the worker whole. Workers Comp Insurance in reality, is as important as (and in some cases, even more important than) general liability insurance.
Any diseases that were obtained while working for the company are also covered by Workers Comp Insurance. Naturally, it is the responsibility of the worker to use general caution and abide by company safety policies when working in potentially hazardous situations. Safety trainings should be a constant activity within your working place and employees should be trained in regards to safety when they are first hired.
Post a workers comp poster in your work sites, along with all of your other workers comp and labor law compliance materials. It’s one of the best ways that you can teach your employees about their responsibilities, or just to remind them because many already know this general rule about injury reporting.
Generally, employees are defined as people performing services at the direction and control of the employer for hire, including minors and workers who are not citizens. Leased employees, contract employees, and some other work-for-hire situations may be exempt from workers comp requirements.
As you might imagine, there are often conflicts between employees and employers over what constitutes valid workers comp insurance claims. It has been our experience, that the most difficult cases involve new employees, claims made after an employee is fired, claims arising from unwitnessed accidents and claims that are made a long time after the injury date.
Your monthly workers’ compensation premium represents a significant expense and a key factor in how many employees you can afford to have on the job whether your business has just one employee or 1,000.
When buying an insurance policy through an agent, you will have to ensure two things, (1) that the agent is a good worker and has a good reputation and (2) that the company he is representing is above reproach. Ask for references from the agent, ask for names of at least 5-10 clients and check up on them. If the agent refuses to cooperate, make a change immediately.
Tags: business insurance, Insurance, liability insurance, worker's compensation, workers comp insurance, workers compensation insurance companies, workman's comp, workman's compensation, workmans comp insurance, workmen's compensation