Workers’ Compensation Insurance in Denver, CO
As an employer, you have an obligation to help your staff maintain their health and wellness. However, while you may take ample steps to limit the likelihood of workplace accidents, injuries and illnesses may be inevitable. Fortunately, by maintaining appropriate workers’ compensation insurance, your organization can help limit resulting consequences and enable affected employees to recover with limited financial losses.
What Is Workers’ Compensation Insurance?
Like many types of insurance, these policies act as contractual agreements between your company and its carrier. After determining the details of your coverage, you’ll be responsible for paying regular (e.g., monthly) premiums. As long as you maintain your policy, you and your employees retain the right to file claims for financial assistance in response to on-the-job injuries or illnesses.
Who Needs This Type of Coverage?
Workers’ compensation insurance is one of the most common pieces of a business insurance portfolio. Beyond the value of investing in an appropriate policy, your organization should also be aware of legal requirements. Most states have laws mandating that employers carry workers’ compensation coverage to ensure that employees receive the care and assistance needed following work-related incidents. Failing to adhere to such obligations could incur significant fines and penalties, and you may even be forced to shut down your business.
What Does My Policy Cover?
A claim against your workers’ compensation insurance policy can garner financial aid for many expenses and losses arising from workplace ailments, such as the following:
- Medical bills
- Wage replacement
- Disability benefits
- Vocational rehabilitation costs
- Death benefits
- Employer legal costs
We’re Here to Help
At J J Insurance, we have the knowledge and experience to help your organization identify its workers’ compensation insurance needs and find the right policy. Contact us today to learn more about your options or to compare tailored quotes.