Life is prone to accidents; no matter how
much caution you may exercise, the possibility of accidents can’t be eliminated
all together. Accidents may happen anywhere without warning, at your workplace
as well. When we talk about blue-collar jobs, this risk factor even increases.
Provided such a nature of mishaps, it is better and advisable to make
provisions in anticipation of such accidents that might occur. Workers
compensation insurance is a kind of insurance that acts as a shield and
protector for both the employer and employees. Workers
compensation insurance basically deals with workplace accidents.
The employees covered under the insurance
named workers compensation doesn’t have to worry about the expenses that
originate from a work related accident as they are covered under this
insurance. The employee who is covered under this insurance, if unfortunately
suffers an accident at the workplace, or outside the workplace in connection to
his job, gets all the expenses incurred on medication and treatment through this
insurance. This insurance also provides financial security in case of temporary
or permanent disability resulting from workplace accident.
The bright side for the employers who provide
their employees with such insurance is that they don’t have to pay for the
various expenses that result from a workplace accident; those expenses are paid
by the insurance. They only have to pay the premium amount for the insurance,
which becomes a part of the employee’s CTC. This insurance policy shields the
employers against any legal actions or claims for damages, medical care, lost
wages, etc., by the employees in case of a work related accident. In case of an
accident, an employer has to just direct the concerned employee(s) to the
insurance company. To know more, please visit: http://www.oconnellins.com/
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