Workers compensation insurance covers medical and rehabilitation costs for workers injured at work. It also compensates for lost wages and provides death benefits to dependents in the event of an occupational accident.
Workers compensation insurance is required by law in almost all federal states. Employees have some exemptions, so you need to check with your state to determine if your business is insured.
If you do not have workers compensation insurance, your company is exposed to high financial risk. Not only will you face proceedings in an accident at work, but you may also be fined for violating the law. Remember that workers compensation insurance not only protects employees, but also small businesses.
Covers employees if workers are injured on the job with medical bills and the cost of being out of work.