Workers’ Compensation insurance is right up there with health coverage and a 401K
Workers’ Compensation insurance is core to provide the best benefits for happy employees. Should anything happen while on the job (including injury and diseases arising in the course of employment), workers’ compensation covers an employee’s medical expenses and any lost wages.
Hutson Group can provide you with complete details on Workers’ Compensation Insurance and recommended cost-effective ways to control expenses through safety engineering and claim services.
Workers’ Compensation allows payments of four types of benefits
Did you know that workers’ compensation is required in most states, but not in the state of Texas? Because it’s optional, some businesses skip it to save money. Before you take that step (link to alternatives page), let’s discuss what’s right for your business.
Alternatives to Workers’ Compensation
Businesses that elect to be a “non-subscriber” to workers’ compensation are usually the kinds that experience higher rates, such as trucking, roofers, and restaurants. We can’t blame them, but when you don’t have a workers’ compensation policy, you lose several key defenses and can face high damage awards if an injured employee can prove in court that the employer was negligent in any way.
Still want to opt out? Occupational Accident policies, accompanied by an Employer’s Liability Policy, are excellent tools to minimize risk exposure. These policies usually come with a deductible and a limit, which workers’ compensation policies usually don’t have. Hutson Group can help you strategize a plan for going the “non-subscriber” route.