WORKERS' COMPENSATION INSURANCE


What is Workers' Compensation Insurance?

Workers' Compensation Insurance is required by regulation in most states when you have W2 employees. In some states the requirement may include that you cover your 1099 contractors. Workers' Compensation insurance covers your employees' medical and disability expenses caused by work-related illness and on-the-job injuries. In some states, owners, officers, partners and other principals can decline to participate in their own companies' workers' compensation coverage.

Employer's Liability coverage, also included in these policies, protects your company should an employee claim that his or her injury or illness was caused by your company's negligence or failure to provide a safe workplace.

What are the benefits of Workers Compensation Insurance?

Workers compensation insurance provides for the well being of your employee's and promotes a positive work environment. Be aware that some states have passed laws that make Workers' Compensation mandatory once a business expands to four or more employees on payroll. Workers compensation insurance was created in order to pay employees medical expenses and loss of wages in the event of a job related injury or sickness.
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