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How Workers’ Compensation Works
What is workers’ compensation? The most valuable asset in a business is its human resource. The fleet of employees is the wheels for any business. But wait. Are your employees insured? Are they protected enough? Or left exposed to dangerous areas of business? From a painter hanging off of the walls to researchers dealing with chemicals, the dangers are everywhere. But, how practical is it to run a business without any tangible risk possibility?
What is workers’ compensation? Effectively, it is insurance for the employees but paid by the employer. This insurance acts as a cushion for employees undertaking hazardous tasks. Though the risk of injury and disability stays the same, this insurance is a bankable asset. Workplace injuries are increasing, despite increasing safety measures. As an employer, seeing your worker injure himself/herself on the job is a sight, not worth cherishing. Not only would you have to take up responsibility for the workplace injury, but there is also an added facet of compensation. Attorneys in Knoxville Tn concur to the obligation of the employer to fairly compensate for the injury’s extent. To streamline this process, the
What are the benefits of workers’ compensation? For employees Coverage of medical bills, Wage compensation for lost working hours, Survivor’s benefits, Rehabilitation costs are covered, Reduces legal hassles, Covers occupational health conditions.
What are the benefits of workers’ compensation? For employers Reduces unnecessary litigations from workers, Protects from civil litigation in the absence of regulatory compliance, Costs less than complete compensation for an uninsured worker, Helps in gaining employee loyalty.
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