To most employers, Workers? Compensation insurance is a necessary evil. Not only a statutory requirement, it ensures that employees injured in the course of their work are taken care of. It can, however, be very costly, particularly for larger companies where the premium is based, in part, on claims experience.
Work accidents can never be completely prevented, however, with the implementation of safe work practices and a strong rehabilitation policy, the number of incidents and time lost will be significantly reduced. This will result in lower claims costs and, therefore, lower premiums. Productivity losses are also minimised with injured workers rehabilitated for a quick return to work.
An employee being injured on the job affects several parties.
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