When businesses evaluate their risks, they are often focused on issues such as loss of product, interruption of service and other aspects that affect their bottom line. However, it is important not to forget that a business cannot continue for long without its workers. Workers’ Compensation insurance is an invaluable tool that employers can carry to both protect their workers and safeguard their business against legal action that may result in costly settlements or defense costs.
What Does Workers’ Compensation Insurance Do?
Workers’ compensation insurance exists to assist an employee who is injured or falls ill while on the job as a result of their work. It is most known for replacing the worker’s wages while they recover and covering their medical cost, but it also serves as a level of protection for the employer against the financial impact of being sued by an employee for adverse workplace conditions that may have contributed to such injury or illness. If a worker was killed on the job, the policy will also pay death benefits.
In Hawaii, carrying workers’ compensation insurance is mandatory, however, you may choose some elements of the policy.
Qualifying For Workers’ Compensation
To receive a payout from a business’ workers’ compensation insurance policy, an employee must be able to demonstrate that they were injured on the job or as a result of their job. If a machine malfunctions and injures a worker, that worker can receive benefits for lost wages while they recover from their injury, as well as have the coverage pay for medical bills and rehabilitation expenses, where necessary.
Similarly, if a worker can prove that they developed mesothelioma due to hazardous work conditions at their place of employment, they may also qualify for workers compensation benefits. However, injuries from a vehicle accident to or from work, or employee injury while behaving in a manner that violates normal company policy while at work may not qualify for a compensatory payout from the insurance policy.
Secure Workers’ Compensation Insurance From Atlas Insurance Agency
If you are looking for a policy that will suit your specific needs, trust the specialists. At Atlas Insurance Agency, we are happy to craft a policy that works for you and keeps you in line with your legal requirements. Reach out by phone at (808) 400-6680 to learn more or request a quote online today.