Businesses owners everywhere need to have a number of important insurance policies in order to keep their business running smoothly. These policies help insure the value of the commercial property, necessary equipment, company vehicles, and even the health and well-being of employees while they’re on the job. Workers compensation in Los Angeles is important though why it is and how it works can be a mystery to many employers.
In brief, workers compensation in Los Angeles is a policy that helps the business entity and you as a business owner avoid having to pay out of pocket for any work-related illness, injury, accident, or death that an employee experiences or incurs while on the job. This can be as straightforward as a broken arm sustained in a serious fall or as complex as long-term occupational illness. The money you put towards purchasing a workers compensation policy buys you considerable peace of mind since you are less likely to be held personally liable in any of these circumstances.
So how does workers comp in Los Angeles work? To start with, you will need to find an insurance company that sells these particular policies. If you already have an insurance agency that you’re satisfied with, consider purchasing a policy from them. However, you would be well advised to compare rates and coverage options. Just as some insurance companies specialize in providing excellent auto, home, or life insurance policies, other companies are dedicated to making excellent workers compensation packages available to customers like yourself. Workers compensation policies differ primarily in terms of total coverage. You should speak with an insurance agent to get an idea of how much compensation your particular business should carry.
If an accident occurs while an employee is on the job, they will first need to file a workers compensation form with the human resources department. This form will document the nature of the accident, where it took place and when, and under what circumstances. This document will be the foundation of the workers compensation file that is developed for that particular case. This document also certifies that the employee has waived their right to sue you, their employer, regardless of what happens next. This saves both the employee and their employer from the costly process of litigation. The file is then added to by doctors’ reports, test results, and other documentation necessary for the processing of the claim.
