Workers Compensation, as the name suggests, protects employees who get injured on the job. It is an insurance program that covers lost wages and medical treatment due to an acquired accident at work. Businesses can’t operate without its people. Sure, financial capabilities are imperative in daily operations. However, who will manage these funds without human resource?
Worker’s Compensation Insurance is another form of risk management tool that answers to injuries and medical protection in case a worker come across an accident in the workplace. This type of insurance is often recommended to contractual employees or those who are exposed to hazards at work especially if the company does not have supporting benefits for such.
Payments are required by law if and when an employee with workers compensation insurance had an injury or went disabled because of his/her line of work. The policy could be different from one state to the other; thus, information would vary, but on standard, the insurance aims to: