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What is Workers Compensation Insurance?

Thousands of work-related illnesses and injuries occur every year, many of which are serious. Workers Compensation policies provide protections for employees who are injured or suffer a work-related illness as a result of their employment.  This type of insurance also covers an employer against legal action that an injured employee may pursue against the employer.  Employers have an obligation to provide benefits for injured employees, either through self-insured programs from financially stable firms, or by purchasing a Worker’s Compensation policy.  Insurers that provide Workers Compensation policies are obligated to the employee, not the employer that purchases the policy. 

Workers Compensation Insurance Massachusetts

What Massachusetts Businesses Need Workers Comp?

Any business that operates within Massachusetts and has employees is legally required to carry workers comp for the business’ employees. Businesses that fail to provide employees with coverage may be fined or face other legal consequences. 

What Exactly Do Workers Compensation Policies Cover?

Several Parts to a Workers Compensation Policy that protect the employer and offer benefits to the injured employee. 

  • Part 1, promptly pay benefits of Medical Expense Benefits, Income Benefits, Dependant Funeral Expense Benefit and Rehabilitation Benefits for an injured employee.
  • Part 2, employers liability responds to third party legal suits against the employer. This coverage is for non-employees such as a dependent of an employee.
  • Part 3, is an optional coverage. This optional coverage provides protections to employees that travel to other to Other States.

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Sources of Workers Compensation Coverage?

All States require an employer to provide the ability to pay for injuries to employees.  Employers have the option to purchase private insurance coverage from insurer, obtain insurance from an assigned risk plan or State funds may provide coverage to employers.  However, the most common way to provide Workers Compensation is by purchasing a policy from a private insurance carrier.

Workers Compensation Insurance Massachusetts

How Can Businesses in Massachusetts Get Workers Compensation Insurance?

First, policyholders should determine the type and amount of coverage that best suits their business needs. Most Workers Compensation policies are purchased through private insurance carriers. Our Commercial Lines Insurance Agents are have the knowledge to write a policy for your unique business while comparing carrier rates to help save your business time and money!

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