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Workers Compensation With Employers Liability Insurance

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Workers compensation with employers liability insurance is a program that provides medical and disability care, rehabilitation costs, partial lost wages, survivor and burial benefits to employees if a team member is injured or killed due to a work-related accident or illness. Most states require businesses to purchase workers compensation coverage. When a company carries workers compensation coverage, it can also include employers liability insurance as a second part of the insurance policy. Risk management plans are designed to reduce a company’s overall workers compensation cost and avoid significant financial loss in the event of an employee injury or lawsuit. Workers compensation services can include:

  • Alternative financing programs
  • Captives
  • Claims management
  • Deductible plans (large and small)
  • Guaranteed costs
  • Incentive programs
  • Loss prevention
  • Nurse triage
  • Onsite assessment of potential exposures to loss
  • Retrospective rating
  • Safety training
  • Stewardship reports

Coverage

Workers compensation covers your team when they need medical assistance. Some examples of an incident that would be covered by this policy include:

  • Back or neck pain caused by their job duties
  • Carpal tunnel syndrome aggravated by their work
  • Exposure to toxins
  • Facility caused injuries (objects falling)
  • Hearing loss from their work environment
  • Physical injuries (falling or heavy lifting) while on the job

Employers liability insurance is the second portion of workers compensation coverage, which covers your business if an employee decides to sue your company for negligence and other instances not covered by workers compensation insurance. The risk of financial loss from accidents or court hearings is reduced as liability insurance can assist in paying attorney’s fees, court costs and settlements or judgments. Some examples of coverage include if an employee is injured while using a piece of equipment at the workplace. They may decide to sue the machinery manufacturer, who could in turn file a lawsuit against your business, known as a third party counter lawsuit. Employees can also claim loss of consortium, which is essentially any losses they experienced due to their sustained injuries. If an employer also manufactures a piece of machinery, then a dual capacity lawsuit may ensue because the employer may be liable as both employer and manufacturer.

Protect Your Business

Lawsuits and injuries can occur at any moment in the workplace. General workers compensation coverage can cover most aspects of your business, but ensuring that your coverage includes employers liability insurance will give a broader scope of coverage to protect in any instance of injury or lawsuit. In general, it is best to also implement workplace safety procedures and accident prevention plans to ensure your workplace environment is as safe as possible. At Gallant Risk & Insurance Services, Inc., we respond to workers compensation claims immediately. By managing incidents at the first notice, and continuing until they are closed, it mitigates the cost and size of each claim.

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