Workers Compensation Insurance
Workers’ Comp is required coverage for businesses with employees. It protects both the employee and the business in case of an accident, illness, or even death that occurs while working or in work-related activities. Workers’ Comp was created to ensure workers would be taken care of without bankrupting the employer. The coverage is considered “no-fault” to reduce the costs associated with assigning blame and paying for medical expenses, covering lost income, and supporting the dependents of employees who are hurt or killed due to workplace accidents. It also covers any medical care stemming from an illness acquired by the employee while they were on the job. This insurance is especially important for construction companies, factories, and other businesses that may have a high potential for accidents.