Workers’ Compensation Insurance in Jonesboro, AR

As a responsible employer, you should maintain a safe and healthy workplace to protect your employees’ well-being. Still, despite your best efforts, even constant vigilance and due diligence may not prevent all accidents and work-related health issues. That’s why you must also retain workers’ compensation insurance to limit the financial ramifications of inevitable workplace injuries and illnesses.

What Is Workers’ Compensation Insurance?

As its name suggests, these policies can compensate your employees if they’re injured in a workplace accident or develop a work-related illness. Your coverage may also financially protect your organization from legal expenses and losses should affected workers choose to sue your business following an incident.

What Does My Business’s Policy Cover? 

By purchasing and maintaining workers’ compensation insurance, you and your employees can enjoy versatile and robust financial protection in the wake of workplace injuries and illnesses. Specifically, payouts may often assist with the following expenses and losses:

• Medical bills—If your employees require health care products or services to treat their work-related ailments, your insurance can help with costs.

• Income replacement—If a workplace injury or illness adversely impacts an employee’s ability to work, your policy may compensate them.

• Disability benefits—Workers’ compensation insurance may provide ongoing financial aid for employees who develop temporary or permanent disabilities due to work-related incidents.

• Death benefits—Following workplace fatalities, your coverage may provide compensation to affected employees’ families.

• Employer legal costs—Your policy can include employers’ liability coverage, which may help offset attorney fees, settlements and judgments if an injured or ill employee sues your business.

Who Needs Coverage?

Workers’ compensation insurance is often required by law. If your business fails to adhere to these obligations, you could face significant penalties, including fines and even being forced to shut down your company. Even if you qualify for an exception to these mandates, coverage is still generally advisable. Not having coverage could lead to many adverse effects, including your employees being unable to recover from incidents and your business facing significant financial and reputational harm.

Get the Right Coverage

Contact Global Risk Office LLC today to learn more about workers’ compensation insurance or get a personalized quote.