Virginia state law requires employers to have workers’ compensation insurance. This insurance can protect employers from lawsuits due to work-related injuries and can be beneficial to workers who sustain injuries directly or indirectly resulting from their job.
According to Virginia workers’ compensation laws, any business employing more than two people must have workers’ compensation insurance. Part-time workers, seasonal and temporary workers, minors, trainees, immigrants and working family members are all considered employees. Any subcontractors and their workers must also be counted as employees even if the subcontractor already has workers’ compensation insurance.
An employer can be required to use their workers’ compensation insurance to pay for injured employee medical treatments such as doctor visits, hospitalization, physical therapy, medical testing, prescription drugs and prostheses. They may also be required to pay an injured employee lost wages due to temporary, permanent partial or permanent total disability. Even death benefits may be covered by workers’ compensation insurance.
Virginia workers’ compensation laws require every employer to keep a record of all injuries or deaths that occur to any employee during their tenure with the company. Employers are also responsible to educate their employees on how to report an injury prior to the occurrence of any injuries. In the event of an incident, employers must immediately notify their insurance carrier.
The enormity of the cost associated with workers’ compensation claims makes having workers’ compensation insurance not only a legal requirement but also monetarily beneficial for all employers. It can save any company time, money and stress.