Most business owners know the basics about workers compensation insurance such as injured or ill employees can receive the insurance to cover their medical bills. Covering your business with Ascendant Insurance protects your business and your employee. Here are other things to know about workers compensation.

State Laws Differ

Depending on what state you live in, the industry you operate in can affect whether you need workers compensation or not. Some states differ on costs whether they are a monopolistic state or not.

Lost Wages

In addition to being compensated for medical bills, employees also receive a portion of their regular income while on leave for a workers comp case. Benefits range from temporary total disability to temporary partial disability. The employee’s doctor determines on the time needed for the employee to heal.

Common Claims

Implementing a safety protocol can help reduce the number of workers comp cases. The most common cases result from machinery accidents, overexertion, falls and slips.

Employees Cannot Sue

An employee who uses workers comp for their medical bills and wage replacement cannot then go sue the company for the same injury or illness. However, intentional action and recklessness by the employer are separate issues legally.

The additional financial asset protection of a workers comp policy with Ascendant Insurance helps mitigate the company’s risks. Workers comp benefits both employees and employers.