Workers Comp

Workers’ Compensation insurance is vital insurance coverage for all businesses with one or more employees. A state-mandated, “no-fault” insurance system, Workers Comp pays benefits to workers injured on the job to cover medical care, part of lost wages and permanent disability. In return, employers receive immunity from civil lawsuits by employees over such workplace injuries.

Since Workers’ Comp insurance is mandated by law, many small-business owners can often make the false assumption that it is just one more overhead expense that provides little benefit. But good Workers’ Compensation insurance is actually an affordable benefit that protects both you and your employees.

Workers’ Comp coverage typically includes: legal expenses if an employee makes an inappropriate claim of work-related illnesses or injuries, reimbursement percentages for lost wages, coverage for employees who are injured in states outside those where your business normally operates, coverage for various types of injuries and illnesses, and even coverage for funeral expenses and financial support to dependents. Its important to compare policies for differing benefits and find the policy that best suits your business needs, the foregoing is a list of commonly coverage, talk to a Colony West professional today to create the best policy for your company.

Looking to reduce your Workers’ Comp costs? Click to read our article 10 steps to reduce your workers’ compensation costs.