Workers’ compensation insurance protects people by assisting injured employees with medical bills, lost wages, and death benefits.
Workers’ compensation insurance also protects businesses financially and legally from crippling losses. If you subscribe to workers’ compensation insurance, Texas law limits the amount and type of compensation an injured employee may receive. If you don’t subscribe, your business is open to nearly unlimited damages from employees’ personal injury lawsuit—and won’t be able to use certain defenses usually available in most personal injury lawsuits, such as contributory negligence, co-worker negligence, and “last clear chance.”
Workers’ compensation law stipulates that an injury sustained while conducting the employer’s business—including work-related travel—is covered, regardless of fault. Employees have 30 days to file an injury report, 90 days to appeal the first impairment rating, and one year to file the formal workers’ compensation claim paperwork.
Workers’ compensation doesn’t cover all injuries. For example, injuries are excluded if they are the result of the employee’s own actions such as horseplay, criminal acts, self-injury, drug or alcohol intoxication, and voluntary participation in recreational activity. Injuries are also excluded if they are caused by a third party’s criminal act, motivated by a personal, against an employee. Injuries from acts of God are also excluded.
The insurance professionals with Koch Insurance Group can guide you to the workers’ compensation insurance solution that will best protect your business and your employees.