What do you understand by the term workers’ comp? This is a broad term that involves workers compensation, wage replacement, medical benefits if they are injured in the course of employment and they have the right to sue the employer in terms of negligence. But this insurance also takes employers side on the account; actually, it is at the same time good for employee and employer.
This Worker’s Compensation Insurance pays compensation to the employee for illness and injury without considering who is at fault. When an employee accepts this compensation benefit, the right to sue employer gets forfeited on its own. This insurance takes care of employee’s benefits besides takes care of employers interests and protects from litigation which may put the business into a huge loss or can keep it out-of-business. When you are an employee in Oklahoma City you can ask your employer for workers’ comp insurance.
Benefits
When an employee is injured or ill and faces non-working days due to medical obligations, this insurance ensures medical expenses and a part of wages until they are able to get back to work. This insurance also provides with a lump sum to an employee who cannot work permanently. In the worst case, this insurance also provides death insurance and pays for funeral expenses.
Covered Injuries
This insurance is only applied if the employee was injured during the course of the job or when at duty, even if the accident did not happen at the office premises. It also covers occupational injuries like a chronic problem because of a long-term chemical exposure.
When It Is Not Applicable
When an employee is intoxicated or the accident is a result of a fight at the office premises or was self-inflicted this insurance is not applicable. Even if the employee was off the job at the time of the accident, he cannot workers’ comp insurance claim in Oklahoma City. Similarly, a worker can sue an employer if the claim is rejected but the incident occurred due to the recklessness of employer.
Need to Carry Insurance
It can be told better by worker’s association of respective state where you are working. Whether you need to carry your insurance or not, it can only be fixed as per state’s requirement.
How to Get Insurance?
In some states, employers need to purchase insurance through state-run programs and in some states, there are private insurance companies providing this worker’s comp. No matter what is your business size or value or scope of work is, you need to have your employees ensured, and thus, you can also protect yourself. Come to Carpenter Insurance. We would provide with workers’ comp insurance in Oklahoma City and will guide to understand it.
