WORKERS’ COMPENSATION IN LOUISIANA
Workers’ compensation insurance in Louisiana provides essential protection for both employers and employees in the event of work-related injuries or illnesses. This coverage ensures that injured employees receive necessary medical care, compensation for lost wages, and other benefits. At the same time, it offers employers a sole remedy, eliminating the need for costly civil litigation and providing assurance that their employees will receive the support they need to recover and return to work.
Under state law, most employers are mandated to provide coverage for lost wages and medical expenses resulting from on-the-job accidents or illnesses. While owners of sole proprietorships and businesses without employees are not obligated to have workers’ compensation insurance, they have the option to purchase it to cover their own medical expenses in case of work-related injuries. For many businesses, workers’ compensation coverage represents a significant portion of their insurance expenses.
Employing higher deductibles for physical damage coverages can be an effective strategy for reducing premiums. It is crucial to ensure that the required amount of basic liability insurance is carried when umbrella insurance is in place, thereby avoiding any gaps in coverage in the event of a serious accident.
Workers’ compensation serves multiple purposes, including providing disability insurance, compensating for economic losses, reimbursing medical expenses, and offering benefits to dependents of individuals who have lost their lives due to work-related incidents.
It is important to note that workers’ compensation generally does not cover general damages such as pain and suffering or punitive damages arising from negligence.
At Complete Insurance Solutions, we specialize in tailoring solutions to meet the unique workers’ compensation insurance needs of your business. Our objective is to create safer and more productive workplaces, instill confidence and security in your workers, and ultimately provide cost savings for you as the employer. Contact us today at 337-735-7613 to discuss your requirements and find the right workers’ compensation insurance solution for your Louisiana-based business.