Nothing beats feeling safe wherever you are, especially in your workplace. As much as employees benefit from workers’ compensation, employers also benefit a lot from this insurance. Before going into much detail, what is workers’ compensation insurance?
Workers’ compensation insurance is a type of insurance that benefits employees by providing wage replacement and other medical benefits to employees in the event of an injury during their course of employment. Here are the five reasons why employers should embrace workers’ compensation insurance.
1. Workers’ Compensation Insurance Protects Employers from Lawsuits
Accidents are bound to happen anywhere, and the workplace isn’t an exception. An employee can sue an employer because of negligence or any other risk factor that he or she believes has led to injuries.
Since the introduction of work compensation insurance, employers can now sigh with relief. This is because today, workers’ compensation insurance is no-fault and provides injured employees with financial assistance for needed medical treatment. This includes pre-injury conditions and indemnity benefits that cover lost wages and permanent impairments. With workers’ compensation insurance, your employees no longer need to prove fault to receive these important benefits.
2. Worker’s Compensation Insurance May beRequired by Law
Most states require employers to have workers’ compensation insurance. This does depend on the number of employees you have in your organization, and requirements and penalties vary from state to state.
For a variety of affordable insurance options, choose Quality 1st insurance for your workers’ compensation insurance needs.
3. Employer’s Personal Health Insurance Doesn’t Pay for Work-Related Injuries
The good thing about this insurance is that, as an employer, your personal health insurance isn’t responsible for covering employees’ work-related injuries. An employer is not held liable for the injuries because workers’ compensation is no fault.
4. Workers’ Compensation Insurance Improves Work Productivity
Illness and injuries can keep your employees from carrying out their tasks. This can lead to absenteeism and reduced or lost productivity, which can hurt your business. With workers’ compensation, workers have the financial support they need to cushion them whenever they fall ill. The insurance enables the employees to get the treatment they need, allowing them to heal faster and get back to work.
5. Workers’ Compensation Helps the Company to Grow
When the injuries are severe, the chances of employees getting back on their feet are very minimal. However, workers’ compensation creates a safer working environment by reducing the threat of lifelong injuries. This gives employees time to harness their skills and provide much-needed efficiency to the company.
Get Your Workers’ Compensation Insurance from Quality 1st Insurance.
Workers’ compensation insurance plays an important role in an organization. Both employees and employers’ benefit from this insurance. It offers protection to employees and contributes to the growth of a company. If you’re injured, or if you’re in need of workers’ compensation insurance as an employer, don’t hesitate to contact us today, and let us help you enjoy the benefits of quality workers’ compensation insurance..