North Carolina Employers: Why Workers Compensation Insurance is Important

Most NC employers are required to carry a type of accident insurance for their employees known as workers compensation NC. This insurance helps pay medical benefits and lost wages to employees who suffer illnesses or injuries while on the job. 

Most states require workers compensation insurance for employees and have their own laws that govern it in their state. Workers compensation NC was enacted in 1929 and has been protecting businesses and their employees for the last century. 

Here’s why workers compensation NC is important. 

It’s a State Requirement

One good reason to carry workers compensation NC is because it’s a state requirement. Most states have laws regarding workers compensation requirements and NC is no different. Every company who employs 3 or more people must carry workers compensation NC by state law. 

There are a few exceptions to this rule and those exceptions vary by state, too. When businesses are found to be noncompliant, the penalties can be stiff. Most often they face administrative fines and penalties along with possible criminal charges. Workers compensation NC is required for most businesses in the state and it’s one of the best ways to protect one of your biggest assets.  

It Protects Employees

Workers compensation NC protects workers who have been injured while on the job. It ensures that they get the necessary medical care, medication, and rehabilitation services they need to recover from their injury. In some cases, it even provides lost wages and financial compensation when injured workers become temporarily or permanently disabled. 

Accidents happen anytime to anyone. Even workers in the safest work environments can suffer from accidental injuries or illnesses that can’t be avoided. Nearly 3 million nonfatal injuries happen to people on the job in America every year. Workers compensation NC helps protect those workers who live and work in NC. 

It Protects Businesses

Workers compensation NC requires injured employees to give up certain rights to sue their employer after an accidental on the job injury. This helps protect businesses from costly, frivolous lawsuits which can damage a company’s bottom line and ability to continue doing business. It also encourages business owners to provide a safe, secure work environment for all the employees in their care. 

While there is some cost associated with providing workers compensation NC, it is minimal compared to the cost of a lawsuit or the cost of medical bills after an employee suffers an injury. Many workplace injuries can be serious, leaving the employee permanently disfigured or unable to continue working. Without workers compensation NC, many businesses would have to shut their doors. 

Workers Compensation NC

Workers compensation NC is a protective type of accidental insurance put in place for the welfare of businesses and employees. It ensures that employees get adequate and prompt medical attention after an on-the-job accident while protecting businesses from lawsuits. It also helps ensure that business owners are encouraged to provide the safest work environment possible for their employees. Workers compensation NC is a state law for every business who employs 3 or more people and it is one of the best ways to protect your biggest asset.