Workers’ compensation insurance helps protect both the employer and the employee in case of an on-the-job accident. This type of insurance plan pays for medical bills and lost wages to employees due to a work related injury, disease or illness. Although workers’ compensation coverage is not required by Texas law, the Texas Department of Insurance suggests private employers purchase some sort of workers’ compensation coverage for their employees due to the many benefits it can bring to your business.
Private employers who carry a workers’ compensation plan have important legal protections, especially from being sued by an injured employee. The insurance plan covers all of the employer’s attorney’s fees and other related court costs. Without a workers’ compensation plan, employers may find themselves dealing with years of legal issues and high court costs. Additionally, because workers’ compensation policies help protect the well-being of your employees, both you and your employees can have the peace of mind.