Workers Compensation Insurance
What are the benefits of providing workers' compensation insurance ?
- Workers' compensation insurance pays all reasonably required medical bills for a work-related injury.
- Workers' compensation insurance replaces some lost wages and compensates the employee for permanent impairment caused by a compensable work-related injury. Any benefits are based on the injured employee's income loss and the severity of the injury. Income benefit payments are a percentage of the employee's pre-injury salary, up to a limit tied to the statewide average weekly wage in manufacturing.
- Workers' compensation insurance protects employers against lawsuits by injured employees and pays legal defense costs and indemnity (payment for losses) in gross negligence death cases.
- Workers' compensation insurance benefits society by helping injured employees and their families, instead of forcing them into the welfare system.