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Injured person filling out worker's comp claim papers.

Workers' Compensation Insurance

How does workers' compensation insurance work?

First, worker’s compensation insurance may be regulated by state law you will be required to purchase the coverage. There are some exceptions to workers compensation requirements, though, so it is important to work with someone who is familiar with your state and its current guidelines. Failure to comply with regulated coverage will involve punitive action and might even involve large fines.

Even if you are not required to carry worker’s compensation insurance your ultimate responsibility should be to protect your workers and their families. Workers Compensation pays for the medical expenses, lost wages and rehabilitation costs of employees who are injured or become ill because of their job. It also protects an employees’ family by paying benefits if their loved one is killed on the job. 

Many businesses notice the benefits of effective safety programs through enhanced rating for workers compensation premium dollars due to claim fee experience.  This creates an incentive for the employer to promote safer work conditions and environment. 

Employer's Liability Insurance

Another aspect of workers compensation coverage is Employer’s Liability which protects the employer against suits for damages due to negligence in the workplace.  Business owners often feel that they are exempt from legal liability simply because they fall in an exemption under the law, but it is entirely probable that a worker’s family could sue and hold you responsible for their loved one’s injuries. This puts an employer at risk for lawsuits for medical bills and lost wages, and this in turn creates a risk for financial failure in business. Keeping workers compensation and employer’s liability coverage in place helps protect against substantial monetary loss to a business.    

Loomis Insurance is committed to helping you understand your workers compensation risk and can show you that quality insurance coverage really is affordable.



Insurance in Missouri, Arkansas, Oklahoma, and Kansas 

The Loomis Insurance Agency provides custom insurance services and excellent customer support for companies, schools, churches and non-profits in America's heartland. Read more about us or use the button below to contact us today.  

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