For as long as people have been working, they have also been getting injured. Just recently, however, in the scale of time since people have started working, those injured parties are generally considered entitled to a percentage of their full paycheck, directly from the employer. Of course, employers out there end up eating a huge loss, having to pay a lot of money for zero production. This is why insurance is so helpful, as it pays out the money without the employer having to pay it all.
Here are some benefits for local businesses getting workers compensation insurance in Denver, CO.
Abiding the Law
In most states, it’s simply the law to have it. While officials probably aren’t going door to door to check, there are some huge penalties and other bad consequences for employers who don’t have it then it’s found out once someone’s injured.
Employers are Always Liable
With the range of laws today, employers are liable to pay compensation even if the employee is at fault. Someone can break safety protocols, use the wrong tool, etc, and end up injured, yet still be entitled to compensation for their injury. Insurance is the only thing that helps in this instance.
Quicker and More Cost Effective
It’s also the quickest way to ensure that employees are receiving their compensation in a timely manner, while also being the best way to effectively handle the situation. It just makes the entire process a lot smoother and less painful.
The Thompson Group is your go-to source in Denver for compensation insurance, so visit today.
