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Workers' compensation insurance(workers' comp) covers your employees when they are injured, made ill, or killed on the job. Benefits include medical expenses, lost wages, vocational rehabilitation, and death benefits.
Workers' comp is there to protect you and your employees. Before these laws existed, serious injury to an employee could bankrupt an employer. It is a no-fault insurance system. Negligence on the part of workers or employers is not an issue in paying benefits.
All companies need to carry workers' comp. Requirements vary from state to state...but it is suggested that if you have employees, you have workers' comp insurance. Without coverage, you may be sued by an injured worker for medical and disability costs, plus damages and lost wages.
In most states, employers can buy their workers' compensation insurance from a private insurance company. This is often referred to as the "voluntary" market for workers' comp. However, workers' comp is available only through a state-run fund in six states (Nevada, North Dakota, Ohio, Washington, West Virginia, and Wyoming).
Contact your insurance provider for more information.
