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The Workers Compensation and Employers
Liability Insurance Policy was developed by the
National Council on Compensation Insurance (NCCI)
and covers the insured's statutory liability under
the various state workers compensation laws or acts.
Workers' compensation, also known
as workers' comp is insurance coverage required
by
state laws. It is designed to provide
compensation for workers who are injured on the
job in the course of their employment. Work
Comp insurance is always paid for by the employer.
Workers' Compensation is based on
a system by which no-fault statutory benefits prescribed
in state law are provided by an employer to an employee
(or the employee's family) due to a job-related
injury (including death) resulting from an accident
or occupational disease.
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The true benefit for carrying workers compensation
insurance is that the laws strictly prohibit employees from
suing their employers for any claims or any negligence if
a policy is in force during the claim.
While plans do vary between states, work
comp insurance generally covers the following:
1. Medical treatment for injured employees
(i.e. broken arm).
2. Occupational hazards such as disease exposure
(i.e. emphysema).
3. Employers Liability (damages to a 3rd
party where employer is liable as a result of an injury).*
4. Temporary disability (up to 2/3 of average
weekly wage)
5. Permanent impairment (i.e. loss of finger)
6. Total disability (usually paid in a lump
sum)
7. Death benefit (paid to survivor dependents).
Employers Liability:
This coverage is provided by Part 2 of the
basic workers compensation policy and pays on behalf of
the insured (employer) all sums that the insured shall become
legally obligated to pay as damages because of bodily injury
by accident or disease sustained by any employee of the
insured arising out of and in the course of his employment
by the insured.
It covers employers who may be liable, if,
through their negligence, employees have been injured. Workers
Compensation pays the worker whether the employer has been
negligent or not. Any injury must be incurred in the course
of employment.
View an overview of a
Workers' Compensation and Employer Liability Insurance
Policy.
Learn more about
Owners Election/Rejection of Workers' Compensation
Coverage.
Additional Links and Information:
The Basics of Workers' Compensation
Workers' Compensation Laws
Workers' Compensation Claims
Workers' Compensation Benefits
Workers' Compensation Classification Codes
State Fund Workers' Compensation
Workers' Compensation Forms
Workers' Compensation Audit Information
Workers' Compensation Commission
Workers' Compensation Information by State
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