Workers Compensation Insurance

This policy agreement obligates the business to pay all compensation and other benefits required of the business by the workers compensation law or occupational disease law of any state listed in the policy. The coverage applies to bodily injury by accident and by disease.

Following are different types of coverages:

• Employers Liability
  This coverage protects employers from their legal liability for bodily injury by accident or disease to an employee arising out of and in the course of the employee's employment when not covered under the workers compensation law. Before benefits are paid under this coverage, the employee must prove the employer is liable for the injury.
• Bodily Injury By Accident
  This amount is the most an insurance company will pay under the coverage for all claims arising from any one accident, regardless of how many employees are involved in the accident. The standard limit is $100,000 for any one accident, which can be increased.
• Bodily Injury By Disease (Policy Limit)
  This is the limit the insurance will pay under the coverage for all claims sustaining bodily injury by disease during the policy period, (which is typically one year) no matter how many claims are reported. The standard policy limit is $500,000, which can be increased.
• Other States Insurance
  This provides workers compensation coverages if the employer expands operations into other states not declared at the time the policy is issued or renewed. If the employer elects this coverage and operations begin in other states, the employer is covered as if the state was originally listed on the policy at the time it was issued.
• Executive Officers, Partners Exclusion Endorsement
  In some states, workers compensation law allows an employer to include or exclude Executive Officers and Partners, or both, from coverage. Adding this coverage to the policy can designate the individuals not covered under the policy.
• Experience Modification
  This is a factor that deals with the rating of the policy. The Experience Modification figure is based on the employer’s history of Workers Compensation claims. The factor is used to increase or decrease the rates of insurance.

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