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Home > Blog > Colorado Workers’ Compensation Insurance and Its Benefit to Employers
WEDNESDAY, SEPTEMBER 23, 2020

Colorado Workers’ Compensation Insurance and Its Benefit to Employers

Employers must take responsibility for their workers’ health and safety. Still, accidents can happen even in seemingly safe environments. If they do, then the employer might have to pay workers’ compensation to the injured party. Most employers do so by using workers' compensation insurance. It helps employees receive support after a loss of income related to a workplace injury. In most states, Colorado included, most business owners must carry this coverage.  a man fixing a roof

States require workers’ compensation for numerous reasons, primarily to benefit employees. Still, businesses too can benefit by buying this coverage. It often reduces their liability burden significantly in the face of employee injuries.  

Understanding Workers’ Compensation  


Workers’ compensation is a government regulation. It requires most employers to provide financial help to employees who get hurt on the job. It protects employees because after someone gets hurt at work, they might not be able to continue working. If they must take time off to recover, or if they sustain a disability, then their ability to make a living might diminish. Workers’ compensation can serve as supplementary income during their recovery or disability period.  

Its Benefit to Employers  

Most businesses get workers’ compensation coverage through workers’ compensation insurance. By having coverage, you can significantly reduce your own cost burden in the event of employee injuries.  

With workers’ compensation insurance, you can avoid paying out of pocket for an employee’s injuries. The employee can make a claim on the policy and see if they qualify for payment. They can then work with the insurer and state workers’ compensation office receive coverage.  

Plus, by agreeing to take workers’ compensation, an employee agrees not to sue the employer. Workers' compensation creates a vessel to help businesses and employees settle differences without legal action. As a result, it can be a pathway that can substantially protect the business and the employee in their own ways.  

Colorado’s Workers’ Compensation Requirements  

Each state has their own workers’ compensation system and rules for filing a claim. In Colorado, businesses with one or more employees (either full-time or part-time) must have this coverage, though a few exceptions exist.  

A variety of injuries might qualify someone for a workers' compensation claim. They might include anything from a fall on the way to the restroom to a machinery injury. They can also include illnesses sustained from long-term toxic exposure. If the harm occurs in the regular scope of someone's employment, then it might qualify for a claim.  

Never forget, even if an injury wasn’t the business’s fault, the business might have to pay workers' compensation. It is easier for the business to provide help through workers' compensation insurance than from its own pockets. 
Posted 5:40 PM

Tags: colorado, workers, compensation, coverage
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