Worker’s compensation insurance, often referred to as worker’s comp, is a type of insurance policy that is mandatory in most states for any business that has employees. Businesses have a legal obligation to provide their employees safe working environments, but even so, accidents can still happen, no matter what the company’s field of activity and size, so the insurance policy is essential for the successful operations of any business.
A complete workers compensation insurance Colorado policy covers for work-related injuries and accidents suffered by an employee of yours. If you are a restaurant owner and your employee slips or cuts a finger in the kitchen, the injured person might file an insurance claim to cover for their medical expenses. In the case of injuries that occur at the workplace, the claims are not filed to the health insurance company – that would be the way to proceed only if the injured person has suffered the accident in their own home. If your business does not have a worker’s comp insurance, your company might be liable for the medical bills related to the injured employee’s treatment and recovery – if your company does have such insurance, on the other hand, the expenses might be integrally or partially covered by the insurance.