Workers’ compensation insurance is a type of benefit for employees, but it really protects your business from the hardship of providing medical bills, retraining and lost wages to employees who are injured on the job. Your business must meet state requirements for workers’ compensation insurance. It’s important for you to know the law and comply with it.
- Carrying Virginia workers’ compensation insurance
Failing to have workers’ compensation not only opens your business up to the financial risk of paying for an injured workers’ claim, but also to state regulatory requirement. Your employees may even be able to file a lawsuit against your business for not having this insurance
- You must post notices and advise employees of their legal rights
You should post the name of the workers’ comp carrier and who to call if the employee has a claim. It’s important to provide details about Virginia workers’ compensation insurance for all employees.
- Provide claim forms
When an employee notifies you of an injury, you are required to provide the employees with a form and written information about his or her rights under the workers’ compensation system.
Workers’ compensation insurance provides security for you and your employees. Discuss your risks with your insurance agent and find ways to prevent accidents before they happen. But have a good workers’ compensation insurance plan just in case.