Virginia law requires businesses with three or more employees, including owners, to carry workers compensation coverage on the employees. Employers’ liability exposure is reduced when Workers Compensation is provided. This coverage pays medical expenses and partial wage continuation when an employee is injured on the job.
Even though you take every precaution to keep your employees safe while working for you, accidents still happen. One injury can prevent a person from working for a significant period of time, leading to financial hardship. And it’s important to note that “fault” doesn’t matter when it comes to a workplace injury, so it is highly likely that you will be responsible when an employee is injured on the job.
Fortunately there is a way to protect your business from a lawsuit and your employees from loss of income.
Part I. Workers Compensation
This section of a Workers Compensation policy covers bodily injury by accident that occurs on the job and by disease caused or aggravated by the conditions of employment.
For example: A worker falls and is injured due to a spill on the floor. Benefits available under workers compensation are medical treatment, permanent and temporary disability and death benefits.
Part II. Employers Liability
This section of the policy protects employers if they are found civilly liable for employee injuries that arise out of and in the course of employment. Employers’ liability coverage helps protect your business against care and loss of services, certain types of third-party claims and consequential bodily injury to a family member of the employee