It’s common for business owners to see workers compensation insurance as a basic expense of doing business and hiring employees. Yet, it provides a wide range of financial protection and can help to ensure that good relationships exist between you and your employees. This type of financial protection helps to cover the losses your employees suffer due to an injury or illness that occurs as the result of their employment with you. Do you know the risks?
Workers compensation insurance claims differ by industry. Generally, they are brought on by work conditions that are not ideal, or mistakes that happen during the course of business. The following are some of the most common claims:
- Overexertion: These are injuries brought on by someone that pulls, pushes, lifts or even throws something to the point where an injury occurs. It is common in factory and construction jobs, but can occur in any job where physical work is necessary.
- Slips and falls: This can occur anywhere. The most common causes are wet floors, but it can also be due to snow, ice, clutter or uneven ground.
- Being struck by an object: This type of claim can occur in many situations. It generally occurs when something falls and hits a worker, such as something falling off of a shelf. It is common in restaurant and retail jobs.
- Falls: Falling from a ladder or off the roof can be a big problem as well. Any worker that works on surfaces where there are multi-levels is at risk for this, including roof workers, construction workers or even teachers who fall down stairs.
- Highway accidents: Workers compensation insurance can help employers to overcome losses when an employee is hurt while operating a company vehicle or involved in an accident while driving for work purposes.
There are many other risks involved. Bodily reactions can occur when someone twists or sprains trying to avoid falling, or machinery accidents can occur when equipment is not used in the right manner. With the right type and amount of workers compensation insurance, it can be easier to overcome these losses and to keep your business safe.