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5 Things You Didn't Know About Workers Compensation

Employment-related lawsuits are on the rise, according to some estimates they have gone up by a whopping 2000% in the last 20 years!

The prevalence of lawsuits has made it increasingly necessary for employers to protect themselves against serious allegations and the costly implications that can follow.

Workers compensation is one of the most valuable commercial liability insurance policies that a company with employees can have.

Here are five things that you may not know about workers compensation. Read on to see what makes workers compensation valuable insurance for employers.

Workers Comp Covers Claims Made for Pre-Existing Conditions
Workers can make claims for pre-existing medical conditions, if the condition was made worse due to job-related factors. Since there is no way for companies to know the medical history of their employees, and little means for them to find out which pre-existing conditions may put their employees at risk, workers compensation is the best way to protection for companies against claims for pre-existing conditions.

Workers Compensation Covers Hearing Loss Claims
Long-term exposure to excessive noise can cause permanent hearing loss. For energy companies in the oil and gas sectors, or any industrial company, workers compensation is an important way to ensure protection from lawsuits related to hearing loss. Even retired employees can bring lawsuits against a company, and workers compensation is an important way to protect your company from liabilities.

Occupational Hazards Are Covered Under Workers Compensation
For Texas energy companies, employees are consistently exposed to potentially dangerous situations, even for the most diligent company who works hard to implement risk management systems. Ensure that your company is protected from lawsuits, workers compensation can provide your energy company with the coverage it needs.

Employees Can Make Claims Even if They are at Fault for the Injury
Even if an employee is at fault for an injury, they can still bring a claim against the company. Workers compensation is a no fault program, which means that even if the employee inadvertently caused an accident, they will still be covered.

Provides Lawsuit Protection for Companies
Workers compensation isn’t just for employees; workers compensation also provides valuable lawsuit protection for employers as well. In Texas, when workers compensation pays out in the event of a work-related illness or injury, Texas law prevents an employee from bringing a lawsuit against their employer for additional compensation. This protection makes workers compensation a valuable insurance for employers, as well as employees.

For more information on workers compensation for energy companies in the state of Texas, visit Texas Energy Insurance today.