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Workers' Compensation
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken. To protect you from lawsuits resulting from workplace accidents.
On-the-job injuries or resultant illnesses can be costly. Not having proper coverage against these expenses means you could be taking a big financial risk. You can cover the cost of medical expenses and disability payments with Workers’ Compensation insurance.
Workers’ Compensation insurance policies actually provide two types of protection. One covers the cost of medical expenses and disability payments if employees are injured or exposed to illness-causing substances while on the job. The other provides businesses with liability protection in case they are sued for damages arising from employment-related accidents or diseases.
The O'Connell Insurance Group is committed to protecting you and your business. Our team is always available to answer your questions.
If you need immediate answers, call (617) 399.9990 or email info@oiginc.com.
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Question: Which of the following types of insurance are employers required to provide, as mandated in most U.S. States?
Professional Liability Insurance
Employment Practices Liability Insurance
Workers' Compensation Insurance
All Of The Above
Answer: In most states, companies are required to carry workers’ compensation insurance for their employees.
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Insurance Term
"GUARANTEED COST"
A Workers' Compensation Insurance policy that is not subject to adjustment due to losses that occur during the policy term. In a guaranteed cost policy, the only variable affecting premium that should change between policy inception and audit is payroll. This is in contrast to the various kinds of loss sensitive plans where there is a premium adjustment made based on losses incurred during the policy term.
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