Workers compensation insurance provides coverage for an employee who has suffered an injury or illness resulting from job-related duties. Coverage includes medical and rehabilitation costs and lost wages for employees injured on the job.
This type of insurance protects workers by making sure that they are compensated for their injuries. It also helps employers because it relieves them of liability for claims and gives them certain legal protections, including legal defense from most injury lawsuits.
Workers get benefits based on the type and severity of their injuries. There are four types of workers’ compensation benefits:
- Income benefits pay a portion of a worker’s lost wages.
- Medical benefits pay for medical care to treat the work injury.
- Physical and occupational rehabilitation for recovery and training.
- Death benefits pay some lost wages to the family of a worker killed on the job.
There are several parts to workers’ comp insurance policies that have an impact on the cost and value of the coverage for you and your employees:
- In the employers’ liability section, or “part two” coverage, your legal expenses would be covered if an employee makes an inappropriate claim of work-related illnesses or injuries. While this section is always included in workman’s compensation insurance, you can choose the amount of liability coverage in this section.
- Coverage for employees who are injured in states outside those where your business normally operates.
- Coverage for various types of injuries and illnesses. The mandated part of this section depends on the state where your business is located, but you should be aware of what is and is not covered.
- Coverage for funeral expenses and financial support to dependents.
- Reimbursement percentages for lost wages.
As an agency, we can help you reduce your insurance expense through helping implement practical and proven safety practices. These practices can be supported through our agency personnel and safety partners.
Though RSS Insurance you will also have access to specialty safety dividend programs providing the unique opportunity to reap financial rewards for your commitment to establishing a safe work environment for your employees.
We’re proud partners with both Pinnacol Assurance and:
The Colorado Safety Association
The Colorado Greenhouse and Nursery AssociationContact Us To Get A Quote!