Workers’ compensation insurance is a form of insurance providing wage replacement and medical benefits to employees injured or falling ill during the course of their employment. In most jurisdictions, employers are required to carry workers’ compensation insurance. It provides coverage for lost wages, medical expenses, rehabilitation costs, and death benefits.
Workers’ compensation insurance is important because it protects both employees and employers. It ensures that injured employees receive the necessary medical care and financial support they need to recover from their injuries or illnesses. At the same time, it helps protect employers from financial ruin in the event of a workplace accident or illness.