Workers Compensation Information
The Texas economy employs more than 13 million people. Each is entitled to a safe and secure workplace. However, no matter how good your risk management plan is, accidents can still happen. When they do, the affected employees might have a right to file for workers compensation, which is provided by their company’s workers compensation insurance. This is critical income protection for those who are the victims of workplace injuries.
Workers compensation can be complicated for businesses to understand, but you shouldn’t have to go on your search for coverage alone. Here at the McLoughlin Agency, we can help businesses of all shapes and sizes get the policy that is perfect for their risk management portfolio. We’ll make your workers compensation benefits always meet the goals you have for them without making them expensive.
Common Workers Compensation Insurance Questions
If someone gets hurt on the job, then they might have to stop working and face high medical bills. This could cause a significant financial strain on the injured person. For help with these costs, they can file against the employer’s workers compensation insurance for supplementary income support. They therefore won’t face significant financial hardships during their recovery periods.
Workers compensation policies often include three benefits:
- Medical Benefits: These payments will cover the costs of necessary medical care related to injuries and illnesses.
- Income Assistance: If you lose your regular paycheck because of a qualifying injury, then this coverage can help replace it. Depending on your circumstances, you might qualify for short-term, long-term or lifetime benefits. Some plans will continue to pay benefits if you can return to work, but at a lower pay grade due to your injury.
- Death Benefits: Should an employee get injured on the job and die, then their survivors might be entitled to a death benefit. It will replace the deceased’s income for a designated time.
Each state has laws that determine which injuries qualify for benefits, how much compensation the injured person can receive, and for how long they can claim benefits.
Employers who are looking for coverage can rest assured that our agents will make sure that your plan makes you compliant with all local workers compensation laws. Some of the injuries that qualify someone for workers’ compensation are:
- Slip-and-fall injuries, burns, head injuries or other harm sustained as a result of your work.
- Repetitive motion injuries sustained over years of repeating the same activity.
- Toxic exposure injuries that arise from working in hazardous environments.
- Injuries sustained in work-related vehicle accidents.
Workers compensation is a great benefit because not only does it help the employee, but it also limits the business’ liability for the accident. Therefore, business owners won’t have to worry about an employee suing them over an injury if they agree to file for workers’ compensation.
Most workers compensation policies cover both full- and part-time employees. After all, even part-time employees still spend time on the job and therefore have a right to workers compensation insurance.
Keep in mind, you will likely have to meet a few workplace compliance standards in order to maintain a workers compensation policy. If you have workers compensation insurance and fail to follow the risk management regulations set forth by the policy, then you can face penalties.
Unlike in most states, Texas does not explicitly require employers to carry workers compensation insurance. However, the law still makes businesses liable for employee injuries.
As a result, if you don’t carry workers compensation insurance for your business, then employees have a right to sue you for their losses. Therefore, without workers compensation, you are substantially more likely to face costly, expensive legal challenges from an injured party.