15 Jul Navigating Workers’ Compensation
Employers face numerous challenges in ensuring workplace safety and compliance. From maintaining a productive workforce to following regulatory requirements, the list of responsibilities can seem endless. But amid these concerns, one critical aspect often weighs heavily on employers’ minds: the potential financial impact of workplace accidents.
Workers’ Compensation Overview
Workers’ compensation is a type of insurance that provides medical coverage or cash benefits to employees who are injured or become ill as a direct result of their employment. It’s important to note that filing a workers’ compensation claim does not assign fault to the employee or employer; coverage is provided regardless of fault. Exceptions include injuries caused by impairment due to drugs or alcohol, or intentional self-harm or harm to others. Covered accidents include:
- Slips, trips, and falls resulting in injury.
- Repetitive motion injuries like carpal tunnel syndrome.
- Diseases or conditions from workplace exposures (respiratory issues, etc.)
- Injuries from machinery, tools, or equipment.
- Injuries from driving for work purposes (delivery drivers, sales representatives, etc.)
- Injuries from heavy lifting, pushing, or pulling.
Additional Considerations
Identifying risks allows businesses to put preventative procedures in place, such as:
- Conducting regular risk assessments to identify hazards in the workplace.
- Implementing safety training programs to educate employees on safety protocols.
- Establishing clear procedures for employees reporting accidents.
- Following local regulations regarding workers’ compensation insurance.
By identifying and addressing risks proactively, businesses can ensure they implement effective risk management strategies not only to prevent costly claims but also to protect their staff. If the protection of your business and employees is important to you, you may want to assess where your risks lie.
Our Intelligent Quotient for Risk Management is a non-invasive, less than 5-minute assessment that you can complete to see where your business stands regarding how effectively it handles workers’ compensation risks. Upon completing the assessment, you will receive a free evaluation score.
We are here for you for all your insurance needs.
To discuss your options, contact one of our talented Risk Advisors today!
No Comments