Workers Compensation Insurance

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Workers Compensation Insurance

Creating a safe work environment for employees is a practical matter for businesses. Implementing safety programs helps keep employees on the job and manage operational costs. Unfortunately, employee accidents can still happen and when they do, the employer is financially responsible.  

Workers compensation insurance is required by law in nearly every state

What is Workers Compensation?

Workers’ compensation coverage protects employees and employers.  A policy’s standard benefits are established by each state and the employer liability amount in most states is elected by the business owner. A policy covers costs associated with an employee’s work-related illness or injury, including:

  • Immediate medical care
  • Ongoing medical treatment
  • Disability
  • Missed wages
  • Death benefits
  • Occupational disease

Who Needs Workers Compensation Insurance?

Nearly all businesses need workers compensation coverage, here are the most common industries:
  • Medical
  • Manufacturing
  • Restaurants
  • Retail

The employer’s liability part of a policy helps protect business assets against legal claims of negligence.

Contact your independent broker to review your state’s regulations and discuss the need for workers’ compensation insurance.  

This is an abbreviated identification of available coverages. Please refer to the insurance policies themselves for a complete description of the coverages, limits, terms, conditions, and exclusions.

Not all products are available in all states and not all products are available in all multi-peril packages offered by GNY Insurance Companies. Please consult with your GNY affiliated broker for further information.