On your policy you will see Employer Liability limits typically for $100,000/$500,000/$100,000, $500,000/$500,000/$500,000 or $1,000,000/$1,000,000/$1,000,000. However, these are not your limits for injuries or illnesses sustained by an employee due to work related injuries. These have to do with claims such as cross-over action claims, dual capacity claims or lawsuits alleging employer negligence that resulted in an accident.
However, due to the way the Virginia Workers Compensation laws are structured, I’ve never personally even seen a claim come in that would be subject to these limits. The reason for that is in the state of Virginia, Workers Compensation is meant to be the sole remedy for the employee if they sustain an workplace injury. The unlikeliness of having to be subject to these limits is even further strengthened by the fact that most insurance companies will put a Commercial Umbrella Insurance policy over a Workers Compensation policy at no charge. However, if you do work in other states other than Virginia, then those limits may be a factor for you.
As far as paying for death benefits, lost wages and medical bills, Workers Compensation is unlimited. Whatever the cost is, the cost is. The insurance company could potentially pay out $10,000,000 if that is resulting claim amount.