Worker's Compensation Insurance
Help protect your employees and your company from workplace liabilities.
What is Work Comp?
Worker’s Compensation Insurance can help protect you and your employees in claims arising from injuries that happen at the workplace.
Work Comp can provide medical care, disability, rehabilitation and survivor benefits. Not only will Diebold agents help you understand regulations for Work Comp, they will identify coverage options that reduce liability risks to your organization. Help protect your business and your employees with a Work Comp policy that fits your needs.
Is it required?
Worker’s Compensation Insurance is required for employees you hire, but not independent contractors you hire. So how do you determine if a worker is an employee or an independent contractor? The first step is to explore the business relationship that exists between your organization and the worker. The general rule is the more control your organization has over the worker, the greater chance he or she will be considered an employee.
Classifications:
Work Comp covers your employees, but what if you’re trying to identify whether the people who work for you are considered employees or contractors? According to the IRS, worker classification can be determined by answering these questions:
Actions
Does your company or organization control what the worker does and how they do their job?
If so, they would be considered an employee.
Pay
Are the business aspects of the worker’s job controlled by you as the payer? This includes how they’re paid, whether expenses are reimbursed, and who provides tools and supplies.
If so, they would be considered an employee.
Relationship
Do you have a written contract, and do you offer employee-type benefits to them? Will they continue to work for you? Is the individual’s work essential to your business?
If so, they would be considered an employee.
If you’re still unsure how to classify your workers, your Diebold agent will help you determine whether Workman’s Comp insurance is right for you.
Fact:
If you incorrectly classify an employee as a subcontractor, you could be on the hook when it comes time for your audit.
Coverage that works for you.
What’s covered
Workers’ Compensation insurance covers employees for injuries and illnesses sustained in the course and scope of employment, including:
- Medical bills
- Disability payments
- Rehabilitation and recovery costs
- Partial missed wages
- Funeral costs and survivor benefits
Workers’ Compensation insurance also covers an employer’s legal defense fees and settlements/judgments, should an injured employee sue for an ineligible workplace injury.
Workers’ Compensation insurance does not cover every workplace injury. Coverage may be denied if any of the following apply to the injury:
- Originated outside the workplace
- Self-inflicted
- Resulted from a fight started by the employee
- Related to a felony
- Claimed after an employee is terminated or laid off
- Caused while the employee was under the influence of drugs or alcohol
Ready to get started?
Or, connect with a Diebold agent at (989) 345-0200.
Industries that benefit from this product’s coverage:
