WORKERS
COMPENATION
Insurance
Workers' compensation insurance, often referred to as workers' comp, is a type of insurance that provides benefits to employees who suffer work-related injuries or illnesses. This insurance is designed to protect both employers and employees by covering medical expenses, lost wages, and other costs associated with workplace injuries, while also limiting the employer's liability.
Coverage Provided by Workers' Comp Insurance:
Medical Expenses:
Covers the cost of medical treatment, including doctor visits, hospital stays, surgeries, medications, and rehabilitation services required due to a work-related injury or illness.
Lost Wages:
Provides partial wage replacement for employees who are unable to work due to their injury or illness. Typically, workers receive a percentage of their regular wages during the recovery period.
Disability Benefits:
Depending on the severity of the injury, workers may be eligible for temporary or permanent disability benefits. These benefits are categorized as:
Temporary Total Disability (TTD): For employees who are completely unable to work for a limited time.
Temporary Partial Disability (TPD): For employees who can work in a limited capacity while recovering.
Permanent Total Disability (PTD): For employees who are permanently unable to return to work.
Permanent Partial Disability (PPD): For employees who have a permanent impairment but can still work in some capacity.
Death Benefits:
In the event of a work-related fatality, workers' comp insurance provides financial support to the deceased employee’s dependents, covering funeral expenses and offering ongoing financial support.
Vocational Rehabilitation:
Provides services such as job retraining, counseling, and assistance in finding new employment if the employee is unable to return to their previous job due to the injury.
Carriers
