WORKERS
COMPENSATION
INSURANCE QUOTES
Workers
Compensation,
Work Comp,
Workers Comp, Workmans Comp
all synonymous
to
Workers
Compensation and
Employers
Liability
Insurance,
developed by the
National Council
on Compensation
Insurance (NCCI)
covers the insured's
statutory liability
under the various
state workers
compensation
laws or acts.
Get
workers
compensation
insurance quotes
in "3" easy
steps!
It provides defined
benefits to
employees for
injuries sustained
or diseases
contracted arising
out of and in the
course of their
employment. All
states have laws
requiring such
protection for
employees and
those laws
prescribe the
amount and
duration of the
benefits
provided.
Employers
Liability covers
against the
common law or
tort liability
of an employer
for employee
injuries that
fall outside the
scope of the
state laws or
acts and
separate and
distinguished
from the
liability
imposed by
workers
compensation
laws.
The policy
consists of one
section and six
parts, as
follows:
This section
indicates that the
insurance policy,
the Information Page
and all endorsements
and schedules in
effect on the
inception date
represent the
contract of
insurance between
the insured employer
and the insurance
company. It defines
who the insured is
and explains how the
work
comp and
employers
liability laws
of the state
apply. It also
explains the
meaning of
workplace
locations and
defines "State"
to mean states
of the United
States and the
District of
Columbia.
This part
explains how the
insurance
provided applies
and outlines the
payments the
insurance
company is
obligated to
make. These
include benefits
required by law,
costs of defense
of suits brought
against the
insured for
benefits paid by
the insurance
and additional
costs incurred
as a result of a
claim or legal
action. It
explains what
happens if other
insurance covers
the same claim
and outlines the
payments the
insured must
make. It also
outlines the
procedures in
the event of any
recoveries from
others and
summarizes the
statutory
provisions that
apply in the
event of loss.
This part explains
what employers
liability is,
how it applies,
and outlines the
payments for
which the
insurance
company is
responsible. It
provides a
detailed list of
exclusions and
circumstances
where coverage
does not apply.
It outlines the
circumstances
under which the
company will
defend the
insured for
suits brought
due to damages
paid by the
insurance and
details the
additional costs
the insurer pays
as part of any
legal action it
defends. It
explains what
happens if other
insurance covers
the same claim
and defines the
meaning of the
terms and limits
that apply to
this coverage.
It also outlines
the obligations
of the insured
in the event of
recoveries from
others
responsible for
a covered loss
and summarizes
the requirements
of each party
before an action
can be brought
against the
insurance
company.
This part
explains how
this coverage
applies when one
or more states
are listed in
the space
provided for
this coverage on
the Information
Page. Coverage
applies to any
state listed on
the Information
Page but does
not apply to any
other state
unless the
insured reports
the start of any
work in that
state within 30
days of it
beginning. The
insured is
required to
immediately
inform the
company of the
commencement of
operations in
any state listed
in this section
on the
Information
Page.
This part
outlines the
duties and
responsibilities
of the insured
with respect to
both the injured
employee and the
insurance
company if an
injury occurs
that may be
covered by the
insurance
policy.
This part
explains the
company's use of
its manuals,
rules, rates,
rating plans and
classifications
to determine the
premium charged.
It explains the
method used to
determine the
classifications
that apply and
outlines how
remuneration is
used as the
basis for
premium
development in
most cases. It
requires the
insured to pay
premiums when
due and provides
details on how
the final
premium is
determined. It
provides details
of the records
the insured must
maintain and the
manner in which
premium audit
uses those
records to
determine the
final premium
owed.
This part
outlines the
right of the
company to
inspect
workplaces at
any time and
clarifies that
those
inspections are
not an
obligation and
do not serve as
safety
inspections. It
explains that
the insured
cannot transfer
any of its
rights or duties
without the
written consent
of the
company. It
provides details
on how the
policy may be
cancelled by
either party, as
well as how
long-term
policies are
handled. It also
requires the
first named
insured on the
Information Page
to act on behalf
of all insured's
with respect to
all policy
transactions.
Statutory
Workers Compensation in
the United
States
Get
workers
compensation
insurance quotes
in "3" easy
steps!
Please Note; the
previous information is
provided for general
informational purposes
only and is not intended
to be construed as
advice, recommendations,
suggestions or
consulting in anyway
shape or form.
Insurance laws, policy
coverage's and insurance
company guidelines can
vary greatly from state
to state. Be sure
to consult with a local
agent or broker licensed
in your specific state.
