What is Workers’ Compensation?
Workers’ Compensation is a form of insurance that provides medical and wage benefits to employees that are injured or ill during work. It also provides death benefits to employees’ family who were killed on the job. Workers’ comp policies relieve the business from getting sued by employees for negligence. Workers’ Compensation laws vary from state to state, but in California your business is required to carry Workers’ Compensation if you have employees.
How do Workers’ Comp claims work?
When an employee is injured during work, he should visit an approved healthcare professional so that the doctor can provide him with a medical report which can be used to file a claim. The employee is responsible for providing all forms and information about the claim and the company. Then the employee files a claim with the employer’s insurance company. When the insurance company approves the claim, the employee will start to receive workers comp benefits.
How does Workers’ Compensation benefit businesses?
No workplace is completely safe or risk free, that is why it is required to have workers’ comp in most states. Even with safety policies in place, employers are responsible for employee injuries. If the employer does not have the proper coverage, he might be forced to pay out of pocket. Workers’ Compensation benefits the business by reliefing them of any lawsuits filed by the employees.
How to reduce workplace injuries?
Providing a safe work environment can beneficial for the business and the employees. Businesses can create a safe working environment by having regular safety training and being open to safety ideas provided by employees. Employers should provide all employees with information on their workers comp.
How much does Workers’ Compensation insurance cost in California?
Insurers determine the cost of workers’ comp policies based on the risks and dangers of an occupation. Each occupation is assigned a risk classification based on two factors: frequency and likelihood of a serious injury. The higher the risk involved the higher the premium.