Workers' Compensation or Occupational Accident Coverage - which is the right product for your client?
|Workers' Compensation||Occupational Accident|
|Type of Coverage||State Regulated||Optional|
|What Does It Cover?||Pays medical bills, death benefits and replaces certain lost wages||Pays medical bills, death benefits and replaces certain lost wages|
|Who Does It Cover?||Employees injured on the job||Independent Contractors injured on the job|
|Benefits||Unlimited||Subject to limits|
|Admitted vs. Non-Admitted||Admitted||Admitted & Non-Admitted|
|Type of Policies||One policy for the entire company||
Policy written on a group basis. Group size is dependent upon industry.
|Who Pays?||The Employer||The Independent Contractor|
Why Purchase Occupational Accident Insurance?
- Business owners can protect themselves from expensive lawsuits and costs by Independent Contractors seeking reclassification to employee status
- Limits in coverage allow employers to manage costs
- Zero deductible and competitive monthly premiums
- Independent Contractors have peace of mind that they are protected
*Occupational Accident is not a substitution for Workers' Compensation and does not satisfy statutory requirements for Workers' Compensation.