Workers’ compensation coverage provides monetary and medical benefits to employees for work-related injuries. Likewise, it also provides death benefits to dependents of employees killed in a work-related accident. While many people view workers’ compensation as just for employees, they may not realize that it is also designed to protect employers.
Workers’ compensation insurance helps shield employers from lawsuits that could potentially put them out of business. In exchange for paying for workers’ compensation coverage for their employees, employers are generally excused from liability if a worker is injured on the job. The Insurance Center of Winchester understands the nuances of workers’ compensation laws, including employers’ responsibilities. Employers must do the following:
- Provide workers’ compensation coverage for all employees.
- Take reasonable measures to provide a safe working environment.
- Notify carriers as soon as possible after an injury or incident has occurred.
The team at the Insurance Center of Winchester can work with you to identify ways to reduce your company’s experience modification factor (mod), which has a direct impact on your workers’ compensation insurance premiums. Your mod is based on several factors including industry averages and your own claims over the past three years. We will work with you to to try to reduce your claims and costs by doing the following:
- Reviewing your insurance policy for correct job classifications and payroll codes.
- Implementing safety programs to avoid accidents and reduce overall costs.
- Creating a return to work program to help injured employees get back to work sooner, allowing employees to complete duties they are capable of doing while recovering from their injuries.
For more information about how the Insurance Center of Winchester can help your business reduce its claims and premium costs, call 540-667-0700 or fill out the form on this page.