John has proven to be a great resource for contract review and risk management. John has provided comprehensive contract reviews that have been invaluable assisting us with negotiations. He has a talent for clearly communicating issues with contracts and providing written narratives. His experience and knowledge and of insurance coverage and insurance underwriting process and identification of key policy coverage issues is also a great value added asset to our company.
Jeffrey Dotterweich, Principal
Dotterweich Carlson Mehner Designs, Inc.
WORKERS’ COMPENSATION POLICY
WHAT TYPE OF PROTECTION DOES WORKERS’ COMPENSATION COVERAGE PROVIDE?
Workers’ compensation coverage provides employees with medical care and compensation for lost income when injured in the course of employment.
Why do I need a Workers’ Compensation policy?
By statute, most states (and many clients) require employers to carry Workers’ Compensation coverage, which protects employers as well as employees. By protecting employees injured on the job, Workers’ Compensation also serves to protect employers from costly lawsuits and payments.
What is Employers Liability coverage?
Employers’ Liability insurance protects your practice when sued by an employee (or an employee’s family member) for negligence that contributed to a work-related injury or illness (i.e., providing a safe and healthy work environment).
Medical Benefits: Provide four types of benefits, such as surgical, hospital, nursing, medication, special equipment, and transportation expenses, including a variety of related incidental expenses
Disability (Loss of Income) Benefits: Replace part of an employee’s lost income who are unable to work due to work-related injuries.
Rehabilitation Benefits: Includes medical rehabilitation (i.e., physical therapy) and vocational retraining (if needed) for a different occupation
Survivor (Death) Benefits: Compensates spouses, children or other relatives of deceased employees, subject to state-centric payment statutes
* Meaning, states that are not listed in the workers’ compensation coverage part of your policy If your employees travel to foreign countries, coverage can be provided, by endorsement to your workers’ compensation policy, or by purchasing a separate policy. If by endorsement, coverage applies to employees who were hired in the United States while traveling, or temporarily residing, outside of the United States.
(1) Rate Per $100 of Payroll
(2) Special Policy Endorsements (i.e., such as waiver of subrogation endorsement)
(3) Terrorism Fund Fee
(4) User Funding Fee
(5) Subsequent Injury Fund Fee
(6) Insurance Guaranty Association Fund Fee
(7) Uninsured Employers Fund Fee
(8) Occupational Safety & Health Fund Fee
(9) State Fraud Fund Fee
(10) Labor Endorsement & Compliance Fund Fee
(11) Expense Constant Fee