Although the risk of having an accident or contracting an illness varies depending on the type of job, no job is without its risks. Of course, electricians, construction workers, or high-rise window washers are at more of a risk for accidents, it really doesn’t matter whether you are a school teacher or a writer–things happen. The workers’ compensation system was developed to protect both employers and employees in case an employee suffers an accident, injury, or contracts a disease as a result of the job they perform. If you’ve ever been hurt on the job, you are well aware that…well…things happen.
Although most states require an employer to carry workers’ compensation, Texas does not. However, it is in your best interest to provide such coverage to your employees. Carrying workers’ comp insurance protects the business owner by stating legal limits as to the amount and type of compensation an injured or ill employee is entitled to. Not carrying workers’ comp leaves the employer at risk of being sued for unlimited damages and lawyer’s fees by any employee filing a personal injury lawsuit.
What Expenses Does It Cover?
Workers’ compensation protects workers and their families from significant hardship in case of illness, injury, or death of the said employee. It is a no-fault insurance designed to help pay hospital and medical expenses for illness or injury as well as replacement income, retraining costs, permanent injury disability, and survivors’ benefits.
What Types of Illness or Injury Does it Cover?
Workers’ compensation insurance does not only cover accidents, it also covers:
- Repetitive stress injuries such as back injuries or carpal tunnel syndrome
- Illnesses or diseases developed gradually such as lung disease and heart disease
How Workers’ Comp Benefits Your Business
The benefits to carrying workers’ comp can be huge. In return for such coverage, employees are not allowed to bring lawsuits for job-related personal injury or illness against their employer, and because there are legal limits (usually two-thirds of the employee’s average wage) your business is protected against unlimited financial damage.