What is workers’ compensation insurance?
Workers’ Compensation Insurance is a form of insurance that provides wage replacement and medical benefits for employees who are injured during the course of employment. If an employee has a work-related injury, they may need to be compensated for lost wages, any related medical expenses, and rehabilitation costs. Workers’ compensation coverage is a legal requirement for personnel, and the costs of a work-related injury without workers’ compensation insurance coverage can be devastating.
ABS Workers’ Compensation Insurance
As the employer-of-record payroll company, ABS provides the required workers’ compensation insurance coverage for all personnel processed through our payroll system. This includes handling the claim management and reporting in the case of a work-related accident or injury, helping you avoid additional administrative hassle. ABS offers payroll services and workers’ compensation insurance in all States, including Monopolistic States, but we cannot sell standalone insurance coverage.
Do I need separate Workers’ Compensation Insurance in addition to the insurance that ABS provides?
Sometimes; if all personnel are being paid through ABS, then it is not necessary to have a separate workers’ compensation insurance policy. If a production is paying individuals on their end (i.e. personnel not being paid through payroll), then they must obtain a separate policy for those individuals.