Workers' Compensation for Small Businesses

A Policy That Pays Employees Who Are Injured on the Job

Workers' compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. Workers' compensation insurance is designed to help companies pay these benefits.

Hylant's trusted advisors can assist you in getting the right workers' compensation plan in place.

Do I need workers compensation insurance?

Employers have a legal responsibility to their employees to make the workplace safe. In most states, businesses are required to buy workers' compensation insurance, which is different from health insurance. It protects the employer from lawsuits resulting from workplace accidents and provides medical care and compensation for lost income to employees hurt in workplace accidents.

Each state has different laws governing the amount and duration of lost-income benefits, the provision of medical and rehabilitation services, and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.

Workers' compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.