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Workman's Compensation

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What is Workman’s Comp? 
Workman’s Comp is a set of payments required by law to be made to an employee who is injured or disabled in connection with work.  It is a program providing payments, without regard to a finding of negligence of either party, to workers involved in specific job-related injuries.

These laws were enacted so that the employee would not have to go through a long and arduous lawsuit and possibly not recover due to the employer's advantageous financial standing. Payments are specifically exempt from taxation.

Workers' compensation is a mandatory type of business insurance that provides employees who become injured or ill while on the job with medical coverage and income replacement. It also protects companies from being sued by employees for the workplace conditions that caused such an injury or illness.

Why is it so expensive – and can you help?
Due to the high-claims and payout nature of Workman’s Compensation insurance, the premiums are very high.  Insurers are out to protect their interests and to make sure they don’t lose money in the deal.  That means high prices for everyone who needs Workman’s Compensation insurance.  The good news is that there are many companies out there who write Workman’s Compensation insurance - and we shop among the best to give you the best coverage and rates possible.

*At The McKenna Agency, we have access to many different markets for Workman’s Compensation.  Stop by, or call us, for a free/no obligation quote from among the many companies we offer.

How it works:
Workers' compensation provides two general categories of benefits to injured workers: indemnity benefits and medical benefits. Indemnity benefits compensate for the worker's loss of income or earning capacity resulting from the work-related injury. Depending on the employee's medical status and ability to work following the injury, she may be entitled to different types of indemnity benefits. A worker whose injury is only temporary and does not preclude her ability to work her normal job duties and hours typically will not receive indemnity benefits because her injury has no effect on her ability to earn a living. A worker whose injury temporarily causes him to miss time from work will be entitled to payment of all or a portion of his lost wages, known as temporary partial disability benefits.

 
A worker whose injury temporarily renders him unable to work at all may receive temporary total disability, which is usually a portion of the worker's average wage. A worker who is able to work at least part time but who has a work-related permanent disability may be entitled to permanent partial disability benefits. The formula for permanent partial disability benefits varies from jurisdiction to jurisdiction but usually considers the employee's average weekly wage combined with the degree of permanent disability. Finally, a worker who is permanently disabled from working at all may be entitled to permanent total disability benefits.

Let the experienced commercial agents at the McKenna Agency use our expertise to find the right insurer for you and your Workman’s Compensation needs.