Accidents happen. They cannot be predicted, and the full extent of damage that could ensue is also uncertain. However, the right preparations can be made to guarantee that regardless of what happens, employees are as protected as possible and businesses are shielded from the liability of injured employees.
Insurance coverage is not just for property, equipment or other assets. Workers’ compensation insurance exists to protect employees financially as well as insulate the business from the direct liability they assume when employees suffer workplace injuries. Companies are legally liable to any employee injury or sickness that occurs on the job, so without compensation, an employer would have to pay out-of-pocket for damages. An insurance policy would protect businesses from having to cover those medical costs on their own.
Workers’ compensation insurance accounts for employee medical expenses and at least some portion of lost wages if they are injured on the job.
In most states, workers’ compensation insurance is mandated by law, so small business owners often think of it as additional overhead that provides little benefit. However, comprehensive workers’ compensation insurance is actually an affordable benefit that protects both employers and their employees.
The professionals at Aegis work with business owners to identify a company’s needs and find a provider that is best suited to them. Business owners need to know that even if an accident occurs, there will not be a ripple effect of events following in its wake – without workers’ compensation coverage, employees have a legal recourse to seek damages from their employer.
Aegis Insurance Markets will find an insurance policy solution that will protect workers and ensure that wages won’t be lost and medical expenses are covered.