Workers Compensation Insurance consists of two coverages, Statutory and Employers Liability, intended to provide protection for workers injured in an accident on the job or from diseases that are work related.
The Statutory portion provides coverage for lost wages and medical expenses related to accidents that occurred on the job or diseases contracted on the job. The wages portion of the coverage is determined by individual state statutes with limits on the amounts and length of compensation. Workers Compensation becomes a requirement for the employer based on the minimum number of employees, including part-time and owners, as determined by the individual State’s regulations.
The Employer’s Liability portion provides liability protection to the Employer, up to the selected limits, for lawsuits related to employment-related injuries and/or diseases by employees.