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Workers’ Compensation [old]

Employers are typically responsible for their medical costs and lost wages when employees sustain work-related injuries. This policy covers these expenses, protecting employees while simultaneously keeping cannabis companies running smoothly.


Who is Workers' Compensation Insurance for?

Employees sometimes get injured on the job, leaving them unable to work for a prolonged time frame. Employers are typically held responsible for their medical expenses and lost income in these situations. Workers’ compensation insurance responds to cover these particular costs. This policy ensures owners don’t have to dip into the business savings or face legal ramifications from employee lawsuits.  

What’s more, most states — except for Texas — require employers to obtain this coverage. Noncompliance could result in jail time, hefty penalties and fees, and stop-work orders. Employers can purchase workers’ compensation insurance in various ways; however, buying it from private insurers is the most popular choice.

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Employers

Employers with one or more employees are typically required to purchase workers’ compensation insurance.

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Party to a Contract

Many states require companies to purchase workers’ compensation insurance for hired contractors depending on the area.

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Seasonal Employers

Companies that engage trainees and part-time, seasonal, and temporary employees usually need workers’ compensation insurance.

Why you need Workers' Compensation Insurance?

Covers employees’ medical costs and lost wages

Most states require this coverage

Protects employees if they’re hurt on the job

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$170B

Over 150,000 employees sustain work-related injuries, causing lost wages and time. These workplace injuries add up to more than $170 billion in direct financial loss.

 

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Most states — except for Texas — require employers to obtain this coverage. Noncompliance could result in jail time, hefty penalties and fees, and stop-work orders.

 

7M

Every day, employees sustain 12,900 work injuries, which adds up to 7 million work injuries each year. Not only is this number astronomical, but the financial damages are, too.

 

What does Workers' Compensation Insurance cover?

Employees sometimes get injured on the job, leaving them unable to work for a prolonged time frame. Employers are typically held responsible for their medical expenses and lost income in these situations. What’s more, most states — except for Texas — require employers to obtain this coverage.

Medical Expenses

If an employee is hurt on the job, this policy responds by covering any related medical costs.

Lost Wages

This policy compensates for lost wages when employees can’t work due to workplace injuries.

 

Rehabilitation

Some states provide vocational and/or psychological rehabilitation for employees who’ve experienced work-related injuries.

 

Disability Benefits

Suppose an employee suffers a disability because of a work-related injury; this policy provides a portion of ongoing lost wages for that time frame.

Death Benefits

If a work-related injury causes an employee’s death, the spouse, minor children, or other dependents receive a death benefit payout.

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What Workers’ Compensation Does Not Cover

What Workers’ Compensation Does Not Cover

Workers' Compensation Claim Examples?

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Equipment-Related Injury

A worker gets injured using extraction equipment, and the injuries sustained prohibit the employee from working (lost wages) and the associated medical expenses from addressing the injury.

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Delivery

An employee delivers your product and gets into a car accident, and sustains injuries that prohibit them from working.

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Employer's Liability Coverage

A worker gets injured using extraction equipment that is not up to industry standards, has been requested by the employees to fix/update, lack of safety protocols in place, etc. (Negligence)

Workers' Compensation Insurance FAQ’s?