What is Workers' Compensation insurance?
Workers' compensation insurance provides coverage for an employee who has suffered an injury or illness from job-related duties. Coverage includes medical and rehabilitation costs and lost wages for employees injured on the job. The insurance premium you pay depends on your employee’s job descriptions. The more active and risk taking the job is, the more likely it is for workers compensation cost to be higher.
Why do I need workers' compensation insurance?
Workers compensation insurance is required by law in most states. Without adequate workers' compensation insurance the employer is exposed to two types of risk. First, if an employee is injured on the job, the employer may be held personally liable for both the cost of their medical care and for the lost wages while the employee is unable to work. Second, many states impose strict fines and penalties for employers who are cited for not having the required insurance.
Workers compensation costs can be affected in many different ways. If you are not familiar with these factors you may be getting charged a large amount of money when you don’t have to be. At Zeiler Insurance, we manage your workers compensation in a number of ways. Our Workers Compensation Management System, CompVision, involves many features including:
- Audit Preparations
- Analyze Experience Mod
- Safety Checks and Recommendation
- Hiring Practices
- Injury Prevention
- Back-On-The-Job Program
- Medical Clinic Relationship
- Validation Date Checkup
CompVision will stay in touch with these factors of Workers Compensation so that you don’t have to! Not only does this save you time but will save you money from Workers Compensation Costs. To find more information about CompVision visit WorkCompAdvisor.com.
Lucas R. Zeiler