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Keeping your employees safe at work is important to most business owners. But when a worker does suffer an injury, workers compensation coverage provides your employees with protection they need, and also, provides you with peace of mind.
Workers compensation insurance is mandatory for many businesses if they have employees, no matter what the job requires. It covers medical costs and a portion of lost wages for employees who become injured or ill on the job.
Workers compensation is like an airbag for your business. When trouble strikes, it deploys to help your employee get back to work as fast as possible, minimizing the damage to your business.
If that sounds like a luxury to you, keep in mind, it's probably a good thing for your business. Imagine having to pay for a slip-and-fall accident out of your business checking account.
It’s a good thing for you and your employees.
Workers comp insurance may also protect you from being sued by employees for workplace conditions, when a court finds your company liable in causing an injury or illness to your employees.
Workers’ compensation Benefits are designed to provide injured workers with the medical treatment needed to recover from work related injuries or illnesses, partially replace the wages lost while recovering, and help the injured worker return to work.
Workers compensation claims can be very costly and frustrating for both the employee and the Insured. Sierra Oak mitigates cost and hassle as much as possible for both the insured and the injured worker.
An “Experience Modification” is a factor developed by measuring the difference between the insured's actual past experience and the expected or actual experience of the class. This factor may be either a debit or credit and, therefore, will increase or decrease the standard premium in response to past loss experience.
Having an adverse experience modification can really place a financial burden on a business owner. The process in which Sierra Oak handles claims can reduce the time they remain open and subsequently the cost of claims.
Workers comp insurance typically covers all injuries or illnesses when they occur in the course of duties performed on the job while at work.
Injuries that may be covered by workers comp insurance include lifting heavy equipment, slipping on a wet or oily surface, or sustaining injury, due to fires or explosions.
Workers Compensation Insurance will cover:
It does not cover:
We specialize in workers compensation in all industries and strive to find the highest rated most affordable carriers in California. We have everything you need right here, including:
Mod reporting review- Six months prior to every renewal Insurance companies are required to report all loss data to the WCIRB to prepare the coming years’ experience mod. Sierra Oak contacts the adjuster on all open losses and reviews the reserve to insure that your coming years’ experience mod is as low as possible, reducing your coming years workers compensation premium.