The Basics of Business Insurance: Workers' Compensation
Protecting those who work for your business against injury during their time employed with you is essential if you're to see your business grow with a happy and stable workforce. That's why Bryan Insurance has a Worker Compensation and Employers Liability program that soundly protects business owners and their employees.
WORKERS' COMPENSATION
Workers' compensation is a type of business insurance that covers medical care and compensation for any employers injured during their time employed with the company. In return, the employee foregoes any right to pursue compensation via legal means for their employer's tort of negligence.
Not all states offer identical schemes, but generally provisions can be made for weekly payments instead of wages (a type of disability insurance), compensation for economic loss (past and future), reimbursement of medical expenses (a type of health insurance), and benefits payable to workers' dependents on the event of their death (a type of life insurance).
Worker compensation plans rarely allow for general damages attributable to pain and suffering, and punitive damages for employer negligence. The state department of labor usually administers any cash benefits, which are established by state formulas with maximum benefit level.
Would you like to understand more about Workers' Compensation in WV and OH?
Contact a Bryan Insurance Agent today if you need more information about workers' compensation or would like a quote tailored to your specific requirements. You can also look through our business insurance policies to see which one suits you best.