Have you ever fallen ill at work and needed to take time off as a result? Have you ever suffered an injury while you were working? Many have and don’t realize that they’re entitled to workers compensation. It’s important to know your rights when something goes wrong. Let’s take a look at the basics of workers compensation insurance, what it is and who is covered.
What Exactly is Workers Compensation Insurance?
Workers comp is a type of insurance payment, which is issued to employees who become ill due to their work or get injured while they are on the job. Different payment terms may be stipulated in different circumstances. Some of these include:
- Regular payments (weekly or monthly) to cover your loss of income while you are unable to work.
- One, lump-sum payment in cases where the employee was left with a personal disability.
- The costs of medical care.
- Rehabilitation expenses to allow the individual to get back to work.
What Does Workers Compensation Insurance Cover?
This type of insurance is known as “no-fault cover,” which means that the cover applies no matter which party is at fault. Workers comp aims to cover both the employer and the employee should an injury occur on the job. If this happens, then the employer is legally required to pay out compensation to the employee. The workers compensation insurance also provides protection for the employer against costly claims for compensation.
These insurance policies are designed in such a way that they don’t just cover the one who is entitled to the work comp claim but also the legal fees and damages which are awarded to the injured or sick employee.
Who is covered?
All of the employees at the company are covered, regardless of whether they are full-time, part-time or casual workers. Contractors and sub-contractors are also covered, as are task workers and any workers on commission.
About the author: If something has happened to you at work and you think you are entitled to a claim, get in touch with Peter Green Insurance today. Our experienced team will be able to tell you what your next step should be.