Workers’ Compensation coverage covers medical bills and partial lost wages for employees who get sick or injured at work; it compensates the employee for economic loss; it may provide monetary benefits to the dependents of workers who are killed on the job; and it protects businesses from costly personal injury lawsuits. Texas requires companies that opt out of coverage to notify employees that they do not carry workers’ comp insurance for small business.
Why Should You Purchase Workers’ Compensation Insurance?
The Lone Star State is literally the lone state when it comes to workers’ comp. Texas is the only state in the United States that does not require private employers to purchase workers’ comp insurance. However, purchasing such a policy helps protect business owners against lawsuits and the punitive damages that can result when an employee is injured while on the job. Protect your business with a cost-effective policy from B2Z Insurance, a trusted small business workers’ comp insurance company.
What, Exactly, Is Workers’ Comp Insurance?
How It Works.
Following an injury at a Texas company, the employee may be required to undergo a medical exam, after which the company reports the injury to its insurance carrier. The insurance company pays the employee’s benefits. The Division of Workers’ Compensation (DWC) monitors compliance of both parties to ensure that relevant state laws are enforced, including access to a fair dispute resolution process, prompt medical care and services to help injured employees return to work.