With the rise in lawsuits, the importance of worker compensation has increased as well.
“The prevalence of lawsuits has made it increasingly necessary for employers to protect themselves against serious allegations and the costly implications that can follow,” says Frank Hursh, owner of Texas Energy Insurance.
Even though workers compensation is not required by law in the state of Texas, experts say that the importance of this insurance shouldn’t be overlooked. While many employers know that workers compensation provides compensation for injured employees, some are unaware that workers compensation provides considerable benefits to employers as well.
“Workers compensation isn’t just for employees; workers compensation also provides valuable lawsuit protection for employers as well,” says Hursh. “This insurance is a valuable -and increasingly necessary- liability policy that can help to provide valuable protection for a company.”
According to Hursh, workers compensation is actually one of the most valuable liability insurance policies that employers can have.
Workers compensation offers employers valuable protection against lawsuits and allegations of job-related injuries. It includes coverage for claims that employees make for pre-existing medical conditions, if the condition was made worse due to job-related factors. It also offers compensation for hearing loss claims, as well as occupational hazards.
In Texas, when workers compensation pays out in the event of a work-related illness or injury, Texas law prevents that employee from bringing a lawsuit against their employer for additional compensation. This protection alone makes workers compensation a valuable insurance for employers, as well as employees.
“Even if an employee is at fault for an injury, they can still bring a claim against the company,” explains Hursh. “Workers compensation is a no fault program, which means that even if the employee inadvertently caused an accident, they will still be covered.”
Texas Energy Insurance provides valuable coverage for companies with employees. For more information on Texas commercial insurance and liability coverage visit Texas Energy Insurance (http://www.texasenergyinsurance.com/