MFE Insurance, a California entertainment insurance agency, recently released a blog educating readers on why workers compensation insurance is a necessary policy for running their restaurants. This type of insurance can help prevent a number of expenses and lawsuits.
Workers compensation insurance is a state-mandated policy that requires payments be made to employees who are injured or disabled as a result of doing their work. Coverage requirements vary by state, but generally, workers compensation insurance covers medical costs from injury or illness, replacement income, compensation for permanent injuries, costs to retrain, and even benefits to survivors of workers who are killed while on the job. After an employee is injured, employers should promptly have them fill out a claim form, which must be mailed immediately to ensure that the employee's medical expenses will be covered. The claim will then be approved and paid out, and employees can receive the money they need to pay for medical treatment and other expenses until they are able to return to work.
Workers compensation insurance can be used to help cover expenses related to one event, or to injuries resulting from repeated exposure. For example, an employee who breaks her leg after slipping on a wet floor would be entitled to workers compensation insurance. A server who damages his wrist after months of carrying heavy trays is also entitled to financial assistance. This type of insurance has several benefits for you and your employees. It ensures that employees receive the care they need without costing your restaurant more money than necessary. Not only does this help retain top talent at your company, it also ensures that your restaurant is able to continue operating after an employee is injured. In addition, because workers compensation insurance is a requirement of doing business, having a robust policy will help your restaurant avoid penalties and provide your employees with a safer working environment.
Speak to an entertainment insurance broker for more information about how to obtain workers compensation insurance as part of a restaurant insurance package. MFE Insurance works with restaurants across the country to develop comprehensive insurance packages that provide effective coverage at affordable prices. For more information, contact the agency at 213-266-7990.