The world is full of uncertainties where you don’t know what the future holds for you. That’s why it is advisable to take precautions today for a better future. Particularly if you own a business, then you should prepare yourself to deal with the associated risks. With the hard work of your employees/workers, your business thrives. It’s your responsibility to look after your greatest assets, i.e. your employees. Buying a workers’ compensation or employee compensation policy is one way you can take care of your employees.
Before telling you more about the niceties related to this policy, let’s look at what workers’ compensation is:
What is the Workers’ Compensation or Employee Compensation Policy?
Workmen’s compensation policy is the primary method by which you (as an employer) meet the responsibilities imposed by the worker’s compensation statutes. The policy covers your statutory liability for death or bodily injuries caused to your employees, which arise during employment.
Here is the step-by-step guide that will help you file a workers’ compensation claim in case of injury:
Notify your insurer
Whenever an accident occurs in your workplace, then your first job is to make sure that your injured employee is taken to the nearest medical faculty so that he/she can get proper treatment. After this, you should inform your worker’s compensation insurance provider. It is not just a responsibility, but you are bound by law to do it as soon as possible.
Notify the Police and Local Labour Authority, If Required
No matter what type of accident happens at your workplace, you should report it to the local police authorities. Filing the complaint regarding the accident will help you deal with the assigned claim team in the future.
It would help if you also inform the local labour authority to make sure all the workers keep working and maintain discipline around your workplace premises.
Submit the Required Documents
Once you notify your insurer about the incident, you need to submit various documents, such as claim forms, medical reports and compensation records, as a part of filing the claim.
It’s your responsibility to provide your injured employees with the necessary medical benefits. In the claim form, you will need to fill in the following details:
- Time, date, and location of the injury
- How the accident happened
- Nature and location of the injury on your body
- Any other people involved
- Medical treatment you’ve been given so far
After submitting the required documents, the claim settlement process, as defined by the insurer, continues.
Coordinate with the Assigned Claim Team
Your insurance provider will hire professionals to investigate the incident and determine whether your claim is right or wrong and make sure you co-operate and give them all the information related to the accident without hiding any relevant information.
The assigned claim team will investigate:
- The injured employee
- The spot of the incident
- Eyewitnesses (if any)
- People involved in the incident
- All the documents that you submitted