Employees serve a critical role in the workplace, which is why business owners need to consider their team’s interests when devising a risk management plan. There are many business insurance options available to cover all the potential hazards a company may face. This includes those that threaten the well-being of employees and their ability to continue performing their job duties. As an employer, it’s vital to understand how the following coverage can protect your workers while simultaneously safeguarding your operations from liability claims.

3 Ways Business Insurance Covers Your Employees & Company

Workers’ Compensation

Workers’ compensation insurance is designed to provide benefits to employees who have sustained an on-the-job injury or illness. This is intended to limit the financial burden they incur as a result by covering costs such as medical bills and lost wages. This kind of coverage will also protect employers from having to deal with any claims or lawsuits alleging that negligence caused the injury to occur. Furthermore, Kentucky law requires all employers to carry workers’ compensation insurance.

Disability

Although Kentucky employers aren’t obligated to buy disability coverage, this type of business insurance can help a company retain top talent. If an employee is unable to work due to an injury or illness received off the job, disability insurance will help to replace a portion of their income. This will also cover employees while on maternity-related leave.

Travel

Companies that send their employees on trips for work should be sure to invest in proper travel insurance. Businesses have a responsibility to preserve the interests of their employees whenever they are fulfilling work-related assignments, regardless if it’s on or off the job site. Travel coverage will ensure workers can receive medical care if they are injured or become ill while away. It can also help employees if they are a victim of theft or their luggage goes missing during their travels.

Every company has unique business insurance requirements, but any organization that relies on the work supplied by others will benefit from carrying coverage for their employees. If you need assistance determining which kind of insurance will best meet your business’s needs, contact Pearson & Barnes Insurance. With more than 20 years of combined experience serving Pulaski County, KY, their agents can help you put together a policy that includes sufficient protection for your workers and keeps your company safe from liability issues. Call their Somerset office at (606) 679-1450 to schedule an appointment, or visit them online to view a list of products they offer.