Workers compensation provides wage replacement and medical benefits to employees injured during the course of employment.
It is a form of insurance created to provide medical benefits to the employees that are injured while doing a job. It is designed to ensure that employees who are injured or disabled while doing the job are not required to cover medical bills related to their on-the-job injury, and they are provided with monetary awards to cover loss of wages directly related to the accident, as well as to compensate for permanent physical impairments.
Why Workers Compensation?
Here are some of the reasons why employer and employees should have workers compensation policy:
- As per the law it is mandatory for every employer to have this policy.
- It reduces the employers financial burden at workplace.
- In case of any employee injury it covers the medical bills and lost wages.
- It protects employers from getting sued for negligence.
Procedure of Claiming It?
Anyone who has suffered or is suffering due to an accident at workplace is entitled to claim against their respective employer. However, in order to do this one should have a proof which shows that the accident occurred due to negligence at work by the employer.
How Much Can Be Claimed?
Frankly speaking, the amount of claim completely depends on the type of injury, like whether it is a minor or major injury. If it is a minor injury then the individual can get well very soon and the amount lost due to absent at work will be less compared to a major injury where the lost time at work is more.
Contact us today to learn how we can help with your business insurance needs.