Of course, the primary reason for a business owner to invest in workers’ compensation is because it’s the law. However, several other benefits make this investment well worth the expense.
With workers’ compensation insurance coverage, businesses are incentivized to promote safety in the workplace. Additionally, they are likewise protected should the worst happen.
With workers’ compensation coverage, a business owner is also able to:
Cover medical expenses and lost wages that they would otherwise be personally responsible for
Stay reasonably protected against lawsuits from injured employees and their families
Help employees make full recoveries so they can return to work
With all of these benefits on the table, plus the fact that workers’ comp is required by law, business owners would be wise to invest early in a solid workers’ compensation plan.