Workers Compensation Insurance
Workers’ compensation insurance coverage is required by law for many businesses. This state-mandated insurance program was designed to provide medical treatment and partial reimbursement of lost wages for workers injured on the job and to help protect employers against civil lawsuits filed by injured workers.
Requirements for employers regarding workers’ compensation vary from state to state. Our agent at B. Murphy Insurance Group in Clarksville, Tennessee, or Austin, Texas, can help ensure that your company is in full compliance with state laws and requirements.
What Does Workers’ Compensation Insurance Cover?
Workers’ comp provides benefits to employees who have suffered a work-related injury or illness. Job-related injuries can result from a sudden accident or develop over time, such as injuries resulting from repetitive motion.
Benefits to employees include:
- Medical expenses associated with the work-related injury or illness, including emergency medical treatment, treatment with physicians, physical rehabilitation, and transportation
- Payment of a percentage of the worker’s average weekly earnings during time off work for recovery
- Permanent disability payments if the injury caused permanent physical impairment
- Vocational rehabilitation when the injured worker must seek a different occupation as a result of physical impairment
- Death benefits paid to the dependents of a worker whose death resulted from a job-related injury or illness
Workers’ Compensation Insurance Costs
Workers’ comp costs vary. Rates for coverage are higher in certain industries, including natural resources, construction, and maintenance. Contact our agent at B. Murphy Insurance Group for a quote on workers’ compensation coverage for your company. We understand the importance of the bottom line and go above and beyond in service to help you find the best rates available.