Workers Compensation Liability Insurance – Being Safe And Secure It is important for all businesses small or large know about Workers Compensation Liability Insurance. This insurance is important to ensure that the business is covered as well as all of their employees so that the books are clean and clear.

With every business comes risk and concern. You are taking a risk that you can make back the money that you put down, as well as make a profit. This is an extremely hard task for businesses when they first start out, and will determine if they will succeed or crash and burn. For some employees the stress of opening a business can be too much. For other businesses that are hands on the risk of injury is always present. This can cause a big problem for the business if they’re not insured properly. That is why it is very important to pay attention and know what your options are.

There are a variety of different types of small business insurance that you can look into. Some of these types are Professional Liability Insurance (PLI,) Workers Compensation Insurance (WCI,) Umbrella Liability Insurance (ULI,) and Business Liability Insurance Package Policy (BLIPP.) All of these have a various amount of different disadvantages as well as advantages.

PLI can be filed by a client if he/she feels that because of your negligence or lack of prompt and/or professional service they have suffered a financial loss.

WCI is insurance that is required in almost every single state in the US as well as Puerto Rico. This states that if you or any other employee is harmed while on the premises working, or off the premises but clocked in that the business pay. That means that if you work for a factory and get caught in the machine while working, the company has to have insurance to cover your medical bills, loss of wages or other things. That can even be recovery or rehabilitation for the injury.

Business Liability Insurance Package Policy is for clients who get hurt while on the premises of a business. It also covers if you or an employer or employee damages anything at a client’s property or anything like that.
Last but not least is ULI which are basically for any claims that seem to exceed the amount of your General Liability policy. This means your coverage isn’t enough to cover the claims.
The most important of these four however is workers compensation liability insurance because it happens more frequently than the rest, however all are important.