Workers Comp

What Employers Should Consider Regarding COVID-19 and Workers Comp

The coronavirus pandemic gripping the globe has had profound effects on businesses of every size and type. Millions of people have been laid off in the wake of economic turmoil. Still, many employees of companies have been forced to balance work with safety considerations, potentially leading to serious risks regarding their personal health. Workers in establishments deemed “essential,” including retail, healthcare, and food service operations, are at higher risk of contracting COVID-19 in the workplace; in these cases, workers’ compensation insurance may be called upon to provide financial relief for affected workers. In this guide, insurance agents can learn what their clients should consider following the economic devastation of COVID-19 and the effects it has had on workers’ comp claims.

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Workers' Comp 2020

Important Workers’ Compensation Coverage Considerations for 2020

Workers’ compensation insurance and other forms of occupational insurance are part of the business landscape for thousands of employers. Typically required by state regulations, these valuable insurance options provide protection for both employees and the companies they work for. At their best, occupational insurance plans like workers’ comp provide financial support in case of workplace-related injury or illness, helping to cover the medical expenses and lost wages of employees injured on the job. As with any government regulations, changes for 2020 may affect workers’ comp and related workplace safety programs. Here is a look at the trends and changes business owners need to know as we enter into the new year.

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Sleep Deprivation

How Sleep Impacts Workers’ Compensation Claims

It should come as no surprise to learn that America’s workforce is fatigued. Long hours on the job and the demands of family life have created a situation where workers have become overtired. Tired workers are more likely to make mistakes on the job, and these mistakes can result in injury. Chronic lack of sleep has also been pinpointed as a cause for numerous health concerns. In all, the lack of sleep among America’s workers has led to a rise in workers’ compensation claims. Occupational insurance plans like workers’ comp provide benefits for those employees injured at work, but it is imperative for business owners and managers to understand the relationship between poor sleep habits and an increase in injury claims.

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Workers Compensation

Workers’ Compensation and Long-Term Occupational Illnesses and Injuries

Workers’ compensation and other forms of occupational insurance provide financial support for employees injured in the course and scope of their duties. Nearly every state requires employers to carry some form of this valuable insurance, which is designed to cover the costs associated with lost wages, medical expenses, and in some cases, long-term disability. Each occupational insurance policy is different, however, and both employers and employees must better understand the potential limitations of coverage for injuries and illnesses resulting in the need for long-term care.

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Occupational Accidents, Injuries, and Illnesses That Are Not Covered by Workers’ Compensation Insurance

Occupational Accidents, Injuries, and Illnesses That Are Not Covered by Workers’ Compensation Insurance

Businesses around the world have a duty to their employees to provide safe workplaces free of the hazards that can result in injury. Workplace injuries are some of the most costly incidents that employers face; even in low-risk professions, work-related injuries account for billions of dollars in lost productivity each year. Workers’ compensation and occupational insurance plans help to defray some of the costs associated with workplace injuries, providing coverage for medical expenses and lost wages. Unfortunately, not all injuries are covered by workers’ compensation, and it is imperative that employers understand what is and what is not covered.

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The Warning Signs of Fraudulent Workers’ Compensation Claims

The Warning Signs of Fraudulent Workers’ Compensation Claims

If an employee is injured in the workplace, workers’ compensation insurance is often the means by which the injured worker can cover the costs associated with lost wages and medical expenses. Workers’ compensation is required by most states, and employers of any size may offer this valuable occupational insurance coverage as an employee benefit. Unfortunately, there has been a rise in abuse of workers’ comp systems, with fraudulent claims causing an upheaval in coverage and costs. In this guide, we’ll explore some of the warning signs that may come from fraudulent workers’ comp claims, giving you the tools you need to identify fraud before it negatively impacts your overhead expenses. 

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Breaking Down the Difference Between Occupational Accident Insurance and Workers’ Compensation

Breaking Down the Differences Between Occupational Accident Insurance and Workers’ Compensation

Companies around the world strive to create safe, productive workplaces for their employees. Despite these initiatives, workplace injuries result in billions of dollars in lost wages and reduced productivity each year. To protect employees and employers from a financial perspective, there are several types of insurance. Among these are two primary types: workers’ compensation insurance and occupational accident insurance. On their surface, these two insurance plans may seem very similar, yet there are important distinctions between the two. It can be useful to understand the differences and to learn about the pros and cons of each type of insurance plan in order to better advise your clients, as they may not know the difference. Read more

Frequently Asked Questions in the Workers’ Compensation Claims Process

Frequently Asked Questions in the Workers’ Compensation Claims Process

Workers’ compensation insurance is designed to provide financial benefits to workers who may become injured on the job. These benefits include payment for lost income, such as when an employee cannot do his or her work and/or when the employee is unable to work during recovery from the injury. Coverage of medical and prescription costs are also commonly provided in these plans. The idea behind workers’ compensation is simple, but the system itself is filled with challenges and confusion. This idea balances risk and insurance. Businesses often have many questions for their insurance carriers when it comes to establishing workers’ comp plans for their employees, and it’s important to have the answers they need. Read more