While the majority of states require businesses to purchase Workers Compensation insurance to cover medical expenses and a portion of lost wages for employees who become injured or ill on the job, there are situations that Occupational Accident insurance can step in to protect both employer and employees. For example, in Texas and Oklahoma, an employer can opt out of the state’s Work Comp law and choose to purchase Occupational Accident insurance to fund the employer’s obligation to its employees. In some states, employers can assume part of the Workers Comp risk themselves, and can use Occupational Accident coverage to fund the assumed risk. Companies in the trucking industry also use Occupational Accident insurance to provide benefits to owner-operators who are not employees.
The solutions-oriented team at Insure My Work Comp can provide you an Occupational Accident policy that fits your business needs.
Occupational Accident insurance is designed to offer benefits to independent contractors and employees who are not covered under a Workers Compensation policy. Unlike Workers Comp, which provides statutory benefit, with Occupational Accident insurance, you need to choose:
In addition, because benefits are not mandated by law, Occupational Accident insurance offers flexibility not found with Workers Comp. Your coverage choices include these options: