An Employers Guide to
Workers' Compensation Insurance
An Employers Guide to
Workers' Compensation Insurance
Workers' Compensation Insurance 101
Workers' compensation insurance is a vital part of any business. It can provide business owners financial protection if an employee is injured on the job. In this post, we'll discuss what workers' compensation is, how the claims process works, how an agent can help, who needs it, and how to get it. So, if you're wondering whether you should purchase workers' compensation insurance for your business, keep reading below!
• What does workers’ compensation cover?
• How do workers’ compensation claims work?
• How does an agent help?
• Am I required to have workers’ compensation insurance?
Benefits of Obtaining Workers' Compensation Insurance with WCF Insurance:
Our partnership with hospitals and clinics give our customers’ employees access to the finest medical care in the region. With nationally recognized doctors and state-of -the-art facilities, our providers offer our injured employees high-quality care close to home.
Workers’ compensation insurance fraud costs Americans $5-$6 billion each year. That’s money from the pockets of honest employers and employees. Fortunately, WCF’s Special Investigations Unit works diligently to discover fraud.
Returning injured employees to productive work in a timely manner is cost-effective for the employer and boosts employee morale. Our certified counselors work with employers, injured workers, and physicians to confirm work capabilities and assist with job modifications
Coordinating medical care is critical to control costs while providing quality care. Our nurse case managers evaluate each injured employee’s circumstances and coordinate care to help in their recovery.
Our safety and risk professionals offer a variety of loss-prevention services, including safety and health audits, program assistance with general safety, substance abuse prevention, safe driving practices and OSHA-required programs.
We look at every submitted bill along with any doctors’ notes to ensure payments are made correctly. We also provide training within the medical community on workers’ compensation billing procedures.
WHAT IS WORKERS’ COMPENSATION INSURANCE?
Workers’ compensation insurance addresses medical care and lost income for injured employees, fatality benefits for families of workers killed on the job, and potential liability for covered claims. Coverage is divided into two categories: workers' compensation insurance and employer's liability insurance.
Workers' compensation insurance covers medical expenses and reimburses employees for wages lost because of work-related accidents. Employer's liability insurance protects employers from lawsuits brought against them by employees who were injured on the job. As with all types of insurance, some conditions and exclusions apply to both.
HOW DOES THE CLAIMS PROCESS WORK?
If an employee is injured on the job, ensure they receive appropriate medical care as quickly as possible. Notify the employee of your designated physician or clinic if allowed in your state.
After the injured employee gets the care they need, immediately report the incident to WCF Insurance by filing a claim. (When you file a claim with us, we’ll report it to the state regulatory body.) Remember to get the names and contact information of anyone who witnessed the accident or who may be able to provide more details.
You’ll want to investigate the accident and document the circumstances surrounding the injury, including looking at the accident site, determining the cause, and securing evidence by taking photos or retaining any tools/equipment involved.
Our claims experts will then lead you through the process and answer any questions you have.
HOW CAN AN AGENT HELP?
Agents are our partners in helping ensure your business gets adequate workers’ compensation insurance coverage. They can help you secure competitive rates and make sure we work together to properly underwrite your policy. Find an agent here.
WHO NEEDS WORKERS’ COMPENSATION INSURANCE?
If you're a business owner, having workers' compensation insurance is mandatory in most states. Each state has different requirements, though. To learn more about your state's requirements, please contact us or your agent.
WHO NEEDS WORKERS’ COMPENSATION INSURANCE? HOW CAN I GET WORKERS’ COMPENSATION INSURANCE?
If you’re looking for the perfect workers’ compensation for your business, contact us, get a quote, or find an agent. Our experts will help get you the coverage you need, guide you through the process, and ensure you’re set up to succeed with the resources you need for a safe workplace.