Workers compensation insurance is a form of 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. To find out more about Workers Compensation Insurance go to this Wikipedia Page. Do you fully know the coverage of workers compensation insurance? It is important to know because it may be necessary for you to carry this based on your business capacity, size and location. There have been several issues embracing workers compensation insurance such as high rates in some states and cheating in the system.
Nonetheless, this is required except for states that are agricultural or domestic in nature and for some work situations. Basically, workers compensation insurance covers employers in cases wherein an employee is injured on the job. Being a small entrepreneur, you should be fully aware of the need and the guidelines involved. Continue reading