CSIS Insurance Services, Inc. Blog
As employers, you are legally obligated to obtain Worker’s comp insurance policies for everyone who works for you. It gives the employer legal protection against lawsuits in case the employee incurs any injury in the workplace. It also allows the employee to get medical benefits and full compensation despite his condition in the hospital.
That being said, what if your employee reaches the retiring age? Does the Worker’s comp insurance policy still cover them? If the answer is yes, what types of injuries are still covered? Are there any limitations?
Fortunately for you, the following paragraphs will be able to answer these questions and more. We hope you would understand how vital Worker’s comp insurance is for retired employees and how it will benefit them in the long run.
Contract worker’s compensation insurance or workman’s comp insurance provides coverage for damages (loss of limbs, emphysema, and more) inflicted at the workplace. It also covers the medical and rehab bills for workers to recuperate and return to work, liabilities, lost wages, and potential lawsuits.
Worker’s compensation rules vary per state—some states allow employers to self-insure, and others set a minimal amount of employees for coverage. Independent contractors need to get workers comp insurance for themselves, but a business owner may have to get one for them if they do not comply.
Worker’s compensation insurance part B is a policy that provides coverage for rehabilitation costs, lost income, and medical care for injured employees on their shifts. It offers the necessary funds for workers when the liable individual is their employer.
The fight against COVID-19 is beginning to look favorable, hence easing lockdowns in many parts of the country. High-risk jobs will soon be starting again, and thus it is necessary to have compensation for these employees. After all, a happy employee creates better results.
Are you planning to buy contractor’s workers’ comp insurance this year and beyond? If the answer is yes, then you should be reading this article as soon as possible. There are a lot of features you have to take note of before making the purchase.
Some of these features may not be the best, so you have to be aware of each one to make an informed decision. Below are a few of the best and worst features of this particular insurance policy as follows:
It is an excellent question to ask, especially if you are a new employee. You have to understand the importance of getting insurance not only for your safety but also for the protection of your family. The short answer to this question is both yes and no.
It’s been months of being quarantined that caused adjustments in our regular cycle. Some had a hard time while others adapted swiftly. Economically, companies shifted from office workplaces to online. But now that some industries are planning to slowly re-open, you might as well consider these things to help you make your employees return for work.
Because of the steady rise of COVID-19 victims all over the world, workers’ comp insurance companies have been working overtime to mitigate their policies to accommodate the need for financial aid due to COVID-19.
As both an employer and an employee, one can ask how COVID-19 affects workers' compensation insurance in general. Are there changes to the existing policies already? Am I still covered? Read the next few paragraphs below to know the answers.
As an independent contractor, you will surely be able to get many benefits. From having your schedule to getting to earn the entirety of your money without percentage cuts, it is one of the best ways to do business primarily in the construction industry.
However, you have to wonder if you will be eligible to apply for any insurance policy. While you may be suitable for some, there are certain limitations to the kind of insurance policies that you can get.
Employees receive benefits from workers’ compensation insurance for injuries that happened on the job. The majority of states deem it mandatory coverage. Therefore, the law obligates several businesses that have workers as employees to buy workers’ compensation coverage.
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