The Impact Of Workers Compensation Insurance On A Business

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The Impact Of Workers Compensation Insurance On A
Business
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• Its usually a given that businesses will do
  their utmost to make sure that their employees
  have a safe environment in which to work in, but
  that cannot always prevent accidents from
  happening. Should something untoward happen to an
  employee while in the workplace as a direct
  result of health and safety negligence, then its
  vital that as an employer, you have a sound
  workers compensation policy, since this will
  help to protect you, your business and your
  workforce.
• What is the purpose of workers compensation?
• Workers compensation should come as part of your
  businesss employee benefits package and works on
  two fronts.

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• Firstly, the compensation should protect your
  employees from the legal ramifications and
  complications that can result form an injury in
  the workplace. Secondly, it makes sure that the
  workers get the medical care and treatment that
  they require after suffering an accident, and
  that they will go on to receive a percentage of
  their regular income until they are declared fit
  to return to work.
• The compensation provides employees with benefits
  irrespective of whose fault the accident was, and
  even if a worker should die while in the act of
  paid work for their employer, the insurance
  package will provide death benefits to any
  dependent members of their family.

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• How is American Workers Compensation Insurance
  structured?
• By setting up self-insurance accounts for
  employees or purchasing commercial insurance
  policies, American employers always fully fund
  the workers compensation coverage. The
  compensation boards created by that states
  legislature, generally handle claims, and in a
  handful of states, claims can be taken to the
  courts directly. No two states have the same
  criteria for determining what type of injury, the
  claimant is suffering from, with most making a
  distinction between injuries that merely impair
  someones ability to function normally, and those
  that disable a person.

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• The system that is in place today is very similar
  to that which began back in the early part of the
  20th century, but some recent laws have resulted
  in changes that require employers to make
  modifications to their businesses to make them
  safer and more accessible for disabled persons to
  be employed there.
• The impact of workers compensation insurance on a
  business
• Not only does this compensation protect employees
  from the harmful and sometimes devastating
  effects that an accident at work can have on
  them, but it works hard to protect the business
  too.

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• It is generally considered to be one of the most
  valuable insurance protections that a business
  can have, and while changes may be made to the
  compensation in the future, it will doubtless
  remain an integral part of any sound business
  insurance policy.
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