What is a workers' compensation insurance policy?

A workers’ compensation insurance policy is a type of insurance policy that provides benefits to workers who are injured or become ill due to their work. In Washington, a workers’ compensation insurance policy is required by law for businesses with one or more employees. The policy covers medical expenses, lost wages, and other costs associated with an employee’s injury or illness. A workers’ compensation insurance policy is also known as an Employer Liability Insurance policy. The policy covers both the employer and the employee. The employer is protected from legal claims resulting from an employee’s injury or illness. The employee is provided with benefits including medical treatment, disability payments, and other assistance. A workers’ compensation insurance policy can be purchased from an insurance company or from the state. In Washington, employers must purchase a policy through the Department of Labor & Industries. Employers can also opt to self-insure through a private carrier. Self-insuring requires more financial responsibility on the employer’s part, but it may offer more flexibility. It is important for employers in Washington to have a workers’ compensation insurance policy in place. This insurance policy helps protect employers from legal liability, and it helps ensure that injured or ill employees receive the benefits they need.

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What is a workers' compensation insurance policy?

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