Workers Compensation Insurance

Workers’ compensation insurance is a type of insurance coverage that provides wage replacement and medical services or benefits to workers injured during employment in exchange for mandatory relinquishment of the employee’s right to sue their employer due to negligence. Workers’ compensation insurance may be one of the most important investments you’ll make as an employer – in your business, in your employees, and in your bottom line.

Requirements For Workers Compensation

There are are a few basic requirements for workers’ compensation benefits: You must be an employee, your employer must carry workers’ comp insurance, you must have a work-related injury or illness.

What is usually covered and what is not?

Workers’ compensation insurance covers many things, but it doesn’t cover everything. All of which makes implementing a safe and healthy work environment that much more important. Common injuries include slips, trips, and falls, falling objects/walking into something, motor vehicle accidents, repetitive motion & cuts and lacerations

What determines the cost of Workers Compensation Insurance?

The cost varies depending on the jurisdiction your business is in as well as the nature of your business or operation. At MPL Risk, in order to determine an affordable price for your business, we evaluate your company’s specific operational history and your business’ payroll to determine a quotation. For more on workers compensation, read our latest blog post entitled ‘Workers Comp Premium Dollars & Cents’.

Request a quote today with MPL Risk by clicking here or call us on (267) 888-4790.

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Our carriers can provide

  • Claims-Made or Occurrence coverage

  • 1st dollar coverage up to $1M+ retentions

  • Primary Limits of $1M/$3M and Excess Limits available

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  • Enhancements to include cyber/security liability, products liability, sexual abuse liability

  • Coverage in all 50 states

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Latest news and tips from our expert team

MPL Risk was able to consolidate our insurance policies with one carrier. They explained what we were missing and eliminated unnecessary coverages.

Steven
Owner, VA Home Health