Paul Fisher Insurance Services LLC

Work place accidents occur. It’s a fact. From very minor incidents such as small cuts and bruises to very serious accidents that may result in death. Previously known as “workman’s comp” for short, the name has been changed to Workers’ Compensation. Worker’s compensation is basically an insurance policy, derived from state statutes, which protect employees if they become injured or sick while carrying out the duties of a job. Worker’s compensation may also pay damages to a worker’s family if the worker is unable to return to work for a long time or suffers a fatal injury.

Each state has its own worker’s compensation regulations and rules, and state laws control an employer’s responsibility to its workers. State law establishes the types of injuries and sicknesses, which are actionable, and the award an injured party could receive for those conditions. Federal law only relates to employees of the national government or those persons who carry out interstate commerce. Coverage includes work-associated illnesses, sickness, falls and other accidents in the workplace.

Workers compensation does not just cover medical costs; it also provides income replacement for the injured worker due to an on the job injury or accident. Depending on the state of jurisdiction, the employee might get up to 2/3 of his or her usual wages, until they are able to return to work.

Worker’s Compensation is insurance that provides medical and disability benefits for work related injuries and diseases. For many employers this insurance is an experience rated system that encourages injury prevention by charging higher premiums to those employers whose workers have more injuries.

Workers’ Compensation sole purpose is to cover the medical expenses accumulated by the injury, as well as financially support of the employee while they are recovering. As an incentive to encourage businesses to accept full responsibility for the premium costs of workers compensation, the workers gave up the right to sue the employer for damages resulting from a job related injury. Many seem to think workers compensation should be treated as an employee benefit. However rather than a benefit, workers compensation is a legally mandated right of the worker. As a mandated right all medical bills and loss wages relating to an on-the-job injury are covered by the workers compensation coverage.

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