Workers’ compensation, also called workers’ comp, workmans comp and work comp, is the system put in place to compensate employees for injuries or illnesses they sustain at work that result in medical care or missing work. Workers’ compensation insurance, which is often used interchangeably with the terms above, is the insurance policy employers must purchase annually in order to provide this kind of coverage.
Workers’ compensation protects your employees. Employers are responsible for maintaining a safe workplace and training employees on safety procedures. But employee injuries still happen:
This could be devastating to both employee and employer. Workers’ compensation was created to navigate these situations.
Your workers' compensation policy has two parts: Part A covers medical costs, rehabilitation expenses and lost income for injured employees, or death benefits to the employee’s dependents. There is no limit to workers' compensation coverage.