Workers’ compensation is an important tool for workers who live in Minnesota. It is a key form of insurance for them in case they get injured while on the job, and it provides funds to manage their recovery and other expenses.
Workers’ comp is a special form of insurance that provides protection on both sides of the contract. For the worker, any injury has its recovery and medical costs paid, and they will obtain a percentage of their salary until they are well enough to come back to work. For the employer, they get a liability shield which means that the employee is usually unable to sue them in case an accident or other incident takes place. Most workplace incidents are automatically covered by worker’s comp. A few are not, such as an incident where the worker was intoxicated or one that did not happen on the premises.
The employer is required to set up a compensation plan once they are large enough, depending on their industry of operation. This set of rules is set by the state board, and it is designed to make sure that once a company is large enough to have employees at risk, they and the employer will both be covered by a workers’ compensation plan. The two-sided protection makes these insurance policies a big win for both employers and employees in industries where workplace injuries can be a serious risk.
Workers’ compensation is not just nice to have– many employers are legally required to have coverage for their employees as well as for any contractors they use on-site.