What is Workers Compensation Insurance?
Workers compensation is a system of state laws that ensure that injured workers receive prompt and fair compensation for work-related injuries and diseases. In most states, laws require you to pay for an injured worker’s medical care, lost wages, and death benefits. Failure to have workers compensation insurance can leave you liable to pay for benefits out of pocket, and subject to fines or penalties by the state.
Examples of possible work-related accidents or diseases include:
- Trips and falls
- Repetitive stress
- Unsafe work conditions
Who is required to have Workers Compensation Insurance?
In general, if you’re an employer and your business has employees, you are required by law to have workers compensation insurance.
Get the Liability Insurance that best meets your needs
To purchase workers compensation insurance, you must also have liability insurance, such as general liability insurance, professional liability insurance, or business owner's policy. This gives your business greater protection.
General Liability Insurance
General liability insurance, also known as commercial general liability insurance (CGL) protects your business from another person or business’s claims of bodily injury, associated medical costs and damage to property.
Professional Liability Insurance
Professional liability insurance, also called indemnity insurance, protects your business if you are sued for negligence, even if you haven't made a mistake.
Business Owners Policy
Business owners policy (BOP) is enhanced insurance that combines general liability insurance and property insurance.
Workers compensation insurance is subject to underwriting guidelines. Not available for all classes of business.
This information is provided to assist you in understanding the coverage we offer and does not modify the terms and conditions of any insurance policy, nor does it imply any claim is covered. Underwritten by Hiscox Insurance Company Inc., 104 South Michigan Avenue, Suite 600, Chicago IL 60603. Administered by Hiscox Inc., doing business in CA as Hiscox Insurance Agency.