Protect Your Business and Your Workers in the Event of Injury
With very few exceptions, businesses are required to carry Workers Compensation. Workers Compensation is rated based on your payroll and the classification of your employees. It’s not uncommon to find that employees have been classified at a higher rate than necessary, especially if your insurance company does not fully understand your business. The highly experienced agents at Insurance, Inc. can make sure that you are not paying excessive premiums.
While state statutes vary, Workers Compensation is required in all states for any employer who has W2 employees. As an employer, you are responsible for paying benefits to an employee injured on the job, whether or not either party was negligent. Unlike other types of policies, Workers Compensation is based on the concept of “no fault.”
From a carrier’s point of view, an injury or disease is compensable if:
The injury is accidental from the injured person’s view
The injury arises out of, and in the course of, the individual’s employment
While the main purpose of Workers Compensation is to provide coverage for employees who suffer work-related injuries, Section B of the Workers Compensation Policy, Employers Liability, protects the company from potential lawsuits arising from work-related injuries and illness.
Call an Insurance, Inc. agent today at 410-753-1900 to analyze your existing Workers Compensation policy or to create a new policy.