Workers’ Compensation Must Respond To The New Economy
Every business has faced issues related to the new economy. The new economy involves how work gets done in today’s millennial environment. Your workers’ compensation and business insurance programs must be designed and respond to these new risks. Now would be a good time to have your business insurance program reviewed to make sure that you have the best possible combination of coverage, price, and services.
New Age Workers’ Compensation Risks
- Social media fingers--Employees are constantly sending and receiving text messages and emails from smart deceives. This increase the stress on fingers, neck, and eyes.
- Work from home--Employees who work from home should be afforded the same equipment as office employees.
- Pet friendly environments--More employers are allowing pets to enter the workplace, some as accommodations for ADA. Employers must consider the potential for allergies and other similar claims.
- Work and play--Companies that offer recreation facilities and game rooms create a potential for new kinds of injuries.
- 24/7 connections--Many employees use laptops or other personal devices as part of their job. Having employees always on demand can create physical and emotional health issues.
As a business owner, you go to great lengths to provide a safe working environment for your employees. Workers’ compensation continues to be a significant cost driver for most employers, and understanding all the factors that can drive your workers' compensation cost can often be complex and time consuming.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.