States usually require employers to purchase Workers' compensation insurance from private insurance companies or state funds to cover workers' compensation claims.
What Is Workers' Compensation Insurance?
- Employers are required by law to take reasonable precautions to ensure worker safety. Nevertheless, mishaps do occur.
- Worker's compensation insurance offers protection if this occurs.
- Worker's compensation insurance has two functions: it ensures that injured employees receive medical attention and reimbursement for a portion of the income they lose while they are unable to return to work, and it often shields businesses from lawsuits brought by employees hurt at work.
- Whether or not the accident was the fault of the worker, they are entitled to payments.
- Workers compensation, or "workers comp," offers death payments for the worker's dependents in the event that they pass away while on the job.
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