Workers’ Compensation Insurance Policy, also known as Workman’ Comp, is a state-mandated insurance policy that provides work compensation to employees who suffer job-related illnesses and injuries. While the Federal Govt. administers a Workers’ compensation program for federal and certain other types of employees, each state in U.S has its own programs and laws for workers’ compensation policy. For up-to-date information on Workers’ compensation in your state, contact with state’s workers’ compensation office.
In short, an employee with a work-related injury or illness can get workers’ compensation benefits regardless of who was at fault — the employer, the employee, a customer, a co worker, or some other third party. In exchange for these sure benefits, employees usually do not have the right to lawsuit the employer in court for damages for those injuries.
There are two reasons an employer has to carry worker’s compensation insurance policy coverage:
- The 1st is to insure workers that are hurt during working hours will be taken care of financially. Worker’s compensation insurance policy will pay the medical expenses and a portion of their wages while recovering from the injury period.
- The 2nd reason is to protect the employer from being lawsuit by the injured employee. It is important to have understanding of worker’s compensation terms and conditions in your state as requirements and coverage differs in every state wise.
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