Workers’ Compensation Insurance in Chicago, IL
As a responsible employer, injuries, illnesses and other health issues impacting your staff are the last thing you want to see happen. Unfortunately, despite your best efforts and meticulous diligence, accidents and unforeseen incidents may be impossible to completely avoid. Workers’ compensation insurance can help curb these concerns and establish a stout financial shield for your company and its staff.
What Does Workers’ Compensation Insurance Cover? 
When your business purchases a workers’ compensation insurance policy, it can cover eligible employees, potentially cultivating confidence and fulfilling relevant requirements. While these policies’ exact coverage capabilities may vary, they can generally offer aid in response to many common workplace incidents, including cuts, burns, falls and repetitive stress injuries.
Why Is Coverage Important?
Companies and employees may need to manage many costs and losses in the wake of work-related injuries and illnesses. Fortunately, covered staff can submit a claim for financial assistance and limit their out-of-pocket costs. Specifically, workers’ compensation insurance payouts may offer funds and resources for the following:
- Medical bills
- Wage replacement
- Disability benefits
- Vocational rehabilitation costs
- Death benefits for surviving family members
In addition to the aforementioned financial assistance potentially available to affected employees, your policy may also help pay for legal costs in the event that your company is sued for these incidents.
Is It Required?
Workers’ compensation insurance requirements may vary depending on your location, industry and the size of your workforce. For example, in Illinois, even if a business only has a single employee, they’re typically required to carry coverage. Failing to abide by these mandates could impose significant penalties, including fines and work-stop orders.
We’re Here to Help
At Express-Way Insurance & Tax Services, we can help you and your business understand and address your coverage needs. Contact us today to learn more or get a workers’ compensation insurance quote.