Workers’ compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.
Workers’ compensation also provides advantages for your company. It can help cover your legal fees if an injured employee or their family sues your company.
While plans differ among jurisdictions, provision can be made for weekly payments in place of wages (functioning in this case as a form of disability insurance), compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance), and benefits payable to the dependents of workers killed during employment (functioning in this case as a form of life insurance).
General damages for pain and suffering, and punitive damages for employer negligence, are generally not available in workers’ compensation plans, and negligence is generally not an issue in the case.
You want to operate your company as safely as possible. Regardless of what you do, workplace accidents can happen, and people can become ill as a result of their employment. If one of these events occurs, you’ll want to know that your small business is protected. We’ve helped businesses protect themselves with workers’ compensation insurance at PCFG Insurance. We’ve got your back and are ready to assist you in protecting yourself, your employees, and your small business.
available from 9:30 am – 5:00 pm