What Is Workers’ Compensation Insurance?
Workers’ compensation insurance, also known as workman’s comp or workers’ comp, gives your employees benefits if they get a work-related injury or illness. These benefits can help:
- Cover their medical care
- Replace most of their lost wages if they take time to recover
- Provide disability benefits
- Pay for their funeral if they lose their life
Workers’ comp also has benefits for you, as a small business owner. If your injured employee or their family sues your business, it can help cover your legal costs.