What Is A Worker's Compensation Insurance?

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Workers’ compensation insurance gives your employees benefits if they have a work-related injury or illness. Also known as workers’ comp or workman’s comp insurance, this coverage can help cover your injured or sick employees’ medical expenses. It can also help replace wages from lost work time. Our workers’ compensation insurance aims to help protect you and your employees. Our insurance is designed to: 

• Support companies in various industries
• Promote employee safety
• Get employees back to work or transitional work
• Provide access to training for new skills

Most states require companies with employees to carry workers’ compensation insurance. But workers’ comp requirements vary from state to state.

When a workers’ compensation claim is filed, it has to be accepted by the injured or sick employee. Employees can receive workers’ compensation insurance, regardless of who is at fault for the injuries or illness.

Workers’ Comp Benefits Cover Both Employees and Employers

The Hartford’s workers’ compensation insurance is meant to protect both the employer and employee. It provides benefits to both parties. 

Workers’ Comp Benefits for Employees

For a sick or injured employee, the workers’ comp benefits depends on the nature of the injury, state requirements, and the specific policy. It can also give employees access to vocational rehabilitation, compensation for permanent injuries and survivors’ benefits. 

Workers’ Comp Benefits for Employers

For employers, a workers’ compensation insurance policy helps protect the business and owner. Without this insurance, you could be financially responsible if an employee gets injured or sick from a work-related cause. For example, say one of your employees slips and falls while carrying a heavy box. He’s taken to the hospital by the ambulance. He finds out his arm is broken and it requires surgery. You could be responsible for paying your employee’s medical expenses out of pocket. If you can’t cover the costs, it could put your business at risk.