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Workers’ comp laws help to protect both businesses and employees. Understanding them, and the nuances of workers’ comp claims in general, can help you run a hyper-successful business. With that said, many employers fail to realize some of the most important facts about workers’ comp. To assist you, here are eight workers’ comp facts that every employer in the US needs to know:
1. These Industries have the Highest Risk of Workers’ Comp Claims
Depending on your industry, you may have a higher risk of your employees filing for workers’ comp claims. Preparation to handle them lawfully, and successfully, is your responsibility as an employer. Construction, manufacturing, healthcare, retail, transportation, warehouse, farming, fishery, and forestry workers are at the highest risk. For employers working in these industries, having a tight-knit, specific plan on how to handle any and all workers’ comp claims is an absolute must. Additionally, workers’ compensation claims by industry can vary wildly, so be sure to keep this in mind.
2. The State Administers the Programs
Employers must pay into state workers’ comp funds or gather these funds through insurance claims that they purchase on their own. When workers find themselves injured or ill due to workplace circumstances, they can use workers’ comp insurance claims to find the financial cushion they need to stay financially afloat as their injuries or illnesses take the time they need to heal.
3. All Employers Must Have a Workers’ Comp Policy
While all employers must have a workers’ comp policy to cover their employers, the laws surrounding this are a bit more complicated than they seem. For example, states differ in who they consider covered employees, in the types of injuries covered, in what type of proof needed for workers’ comp claims, in their statute of limitations, and in what type of defenses employers use to try to deny an employee’s workers’ comp claim.
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