Workers' Compensation Insurance is a type of small business insurance that is mandatory in most states, and covers employees for work-related injuries. A typical "workers comp" insurance policy pays lost wages and medical expenses incurred due to a work-related accident or injury, while also protecting the employer against accident-related lawsuits.
Unfortunately, there are dishonest people in this world, and there are times when a Workers’ Compensation claim should be denied, such as when the employee isn’t hurt on the job or it’s an old injury.
As many states begin taking a closer look at denials of workers’ compensation claims, now is a good time to evaluate how your company is handling workers’ compensation claims.
While state laws vary, there are some important best practices to follow:
Here are some practices to avoid:
No One is Perfect. If a mistake is made, here are some best practices to follow:
No business wants to pay penalties for Workers’ Compensation claim denials, so following these best practices can help your business avoid or minimize those penalties.
American Insuring Group, Ltd. offers cost-effective worker's compensation insurance from a great variety of competing insurance companies, enabling you to get a great deal on high-quality WC insurance.
For more information about Workers’ Compensation insurance, claims, or denials, contact American Insuring Group at (800)947-1270 or (610) 775-3848.