Workers compensation insurance is an extremely complex and controversial field. Legal requirements and the nature of workers compensation insurance vary greatly from state to state. For this reason you should contact a good insurance agent to outline what workers compensation insurance involves in your state. For the sake of this article we will discuss the rules and regulations of workman’s comp in Illinois.
Workers compensation insurance is intended to provide coverage if an employee becomes injured or dies in the workplace. Previously in such cases employees had to file a law suit, and the process was slow and expensive for both employees and employers. Workman’s comp creates a standardized protocol for injuries wherein the possible extent of liability is determined before accidents occur and claims are paid quickly and without controversy.
While some states such as Missouri don’t require workers compensation insurance for small businesses, in the state of Illinois it is compulsory for all businesses regardless of how many workers they employ.
Unlike other states the state of Illinois does not involve itself directly with workers compensation insurance, as such all coverage is provided by private carriers, self insurers or by groups of employees who share their liability.
In the state of Illinois all medical costs are covered if the treatment is deemed reasonable and necessary for the healing of the injury.
When calculating the exact figure for cases of temporary total disability a number of factors are taken into consideration such as the number of dependent a worker has and their average salary. The maximum duration of payment is the duration of the injury. In cases of permanent total disability payments may be made for the rest of the worker’s life.
Accidents in the workplace can often result in tragic injuries; workers compensation insurance reduces that tragedy though it sometimes cannot cure it completely. Protect the welfare of your workers and your business by talking to an insurance agent today about getting the coverage you need.