Saturday, June 4th, 2011 at 8:22 pm ?
Occupational Accidents insurance talks about coverage for work attributed accidents that occur in the course of a individual?s job. Occupational accidents insurance may not provide any protection any illnesses that are not affiliated with accidents.?
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Work related accidents constitute for over? 90% of occupational disabilities in the USA. In most cases the injured employee is compensation under state laws. Workers compensation is a coverage that is required by law for all salary paying employers that recruit people as ?employees? compared with ?independent contractor?.
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Workers compensation and occupational accidents insurance generally deals with the following details:
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- - All medical payments for medical care? that are reasonably required to remedy or alleviate the injury.
- - Temporary Total Disability (TTD): Pay for benefits while the insured staff is in recovery.
- - Temporary Partial Disability (TPD). Pay for benefits when the insured worker is not fully healed but is performing some light work.
- - Permanent Partial Disability (PPD). Provides income payments to an injured worker who incurs a permanent disability but can perform light functions.
- - Permanent Total Disability (PTD). Provides income payments to an injured employee who is ruled to be incapacitated to work completely.
- - Survivorship Benefits including death benefits for surviving spouse and family members.
- - Vocational rehabilitation to enable the injured worker get gainful work through rehabilitation plans to enhance job skills or education or vocational training.
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Similarities and differences between workers compensation and occupational accidents insurance.
Workers compensation is a coverage that is mandated by law. Workers compensation policies are created with certain minimum limits and coverages pertaining the factors listed above. The coverage along with provisions, conditions, and exclusions of the policy are carefully observed by certain governmental institutions in each state. Also the government observe very closely, and does intervene in the claim paying procedures. Workers compensation insurance companies work within strict legal and competitive environments. Occupational accident insurance, on the other hand, is not mandatory and its terms and provisions related to the above factors are governed by competitive forces, not legal requirements per se.
Workers compensation coverage covers both work related accidents and work related diseases. Occupational accident coverage covers only accidents.
Rating for workers compensation coverage is based on class code (level of risk associated with the job), insurance amounts and anticipated annual payroll. However, pricing of occupational accident insurance is based on class code and coverage limits. Payroll is not a factor in a factor in deciding prices for occupational accident insurance.
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?Reasons for occupational accident insurance.
In situations where companies are not required to have workers compensation and where the class of business is too high and where anticipated annual payroll is too high, some businesses may find it beneficial to get occupational accident policies instead of workers compensation. A prominent example is a trucking company that hires independent owner operator truckers. Occupational accident for truckers can be challenging in some states because some states have ruled those as ?employees? that must be covered under a workers compensation policy, not under an occupational accident policies. For that reason, occupational accident policies may not be helpful to cover independent contractors who can be interpreted as ?employees.?
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Some insurers present valuable enhancement to their occupational accident policies such as ?Contingent Liability?. In occupational accident insurance, contingent liability kicks in when and if the employer is sued for accidents covered under their occupational accident coverage, but it was decided later that workers compensation was needed to cover the case. In that scenario the occupational accident policy will provide coverage tantamount to workers compensation.
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Insurance Navy is a leading provider of? workers compensation and occupational accidents in illinois. For more information about sr22 insurance quotes or about? Palos Hills auto insurance rating please visit our website.
Tags: salary paying employers, chicago car insurance quotes, workers compensation illinois, car insurance chicago, occupational accidents illinoisFiled under: Articles
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