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What type of protection does a Workers’ Comp policy provide?

Workers’ compensation coverage provides employees with medical care and compensation for lost income when injured in the course of employment.

​Why do I need a Workers’ Compensation policy?

​By statute, most states (and many clients) require employers to carry Workers’ Compensation coverage, which protects employers as well as employees. By protecting employees injured on the job, Workers’ Compensation also serves to protect employers from costly lawsuits and payments.

​What is Employers Liability coverage?

Employers’ Liability insurance protects your practice when sued by an employee (or an employee’s family member) for negligence that contributed to a work-related injury or illness (i.e., providing a safe and healthy work environment).

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Knowledge Base

  • Medical Benefits:  Provide four types of  benefits, such as surgical, hospital, nursing, medication, special equipment, and transportation expenses, including a variety of related incidental expenses

  • Disability (Loss of Income) Benefits:  Replace part of an employee’s lost income who are unable to work due to work-related injuries.

  • Rehabilitation Benefits:  Includes medical rehabilitation (i.e., physical therapy) and vocational retraining (if needed) for a different occupation

  • Survivor (Death) Benefits:  Compensates spouses, children or other relatives of deceased employees, subject to state-centric payment statutes

If you are a closed corporation (i.e., company stock is owned by its executive officers) or a partnership, most states allow you to exclude coverage for these individuals*.
Yes, most, if not all of your client contract agreements will require adding two endorsements, in particular the first endorsement: (1) Waiver of Subrogation Endorsement: This endorsement removes policy subrogation rights against any client from work performed under a written contract or agreement. (2) Longshore and Harbor Workers’ Compensation Act Coverage Endorsement (LHWCA): This often mandated endorsement, allows your firm to meet contract requirements.
Your policy provides incidental workers’ compensation coverage for out-of-state* business travel for periods of time generally not exceeding 30 days. (i.e., Other States Insurance). Your policy only needs to be modified if business travel exceeds this 30 day period, regular business operations begin, or employees are hired who will live in that state.

* Meaning, states that are not listed in the workers’ compensation coverage part of your policy If your employees travel to foreign countries, coverage can be provided, by endorsement to your workers’ compensation policy, or by purchasing a separate policy. If by endorsement, coverage applies to employees who were hired in the United States while traveling, or temporarily residing, outside of the United States.
You will need to revise your policy to list the state(s) where this project work is going on. An injured employee will then be covered pursuant to the governing workers’ compensation and employer’s liability laws. SPECIAL NOTE: If work is done in North Dakota, Ohio, Washington or Wyoming (collectively “Monopolistic State” program providers), a separate Workers’ Compensation policy is required. Insurance brokers cannot purchase insurance for your practice from Monopolistic State programs: contact IOA for specific information on the purchase process. Please note that Employers’ Liability protection is not available for purchase from a Monopolistic State program provider: IOA can secure this coverage for you upon request.
This coverage, which is added by endorsement, enables an employer to extend the benefits provided by the Workers’ Compensation act to employees (i.e., domestic workers and casual or seasonal workers) who are not otherwise eligible for workers’ compensation benefits.
Most states, such as California, require you to furnish a claim form to an injured worker within one (1) working day of knowledge of a work-related injury or illness: other than first aid. While it is mandatory for you to furnish the claim form to the employee, it is not mandatory for the employee to complete it. Penalties can be invoked if you fail to provide an injured employee an employee’s claim for compensation benefits form or if you fail to report the claim to the workers’ compensation insurance carrier.
Most states, such as California, the following factors typically apply when calculating the cost of a policy:

(1) Rate Per $100 of Payroll
(2) Special Policy Endorsements (i.e., such as waiver of subrogation endorsement)
(3) Terrorism Fund Fee
(4) User Funding Fee
(5) Subsequent Injury Fund Fee
(6) Insurance Guaranty Association Fund Fee
(7) Uninsured Employers Fund Fee
(8) Occupational Safety & Health Fund Fee
(9) State Fraud Fund Fee
(10) Labor Endorsement & Compliance Fund Fee
(11) Expense Constant Fee

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