It is important to report all insurance claims promptly. The ever rising cost of claims poses a serious threat for employers. However, following some simple strategies can reduce claims cost significantly. Early reporting of claims is considered as a wise business decision. The earlier an accident claim is reported, the lesser the claim cost is likely to be. In this article we will discuss the importance of promptly reporting claims.
Workers Compensation Laws are introduced to ensure that if an employee gets injured while at work, he/she will receive a compensation for replacing medical costs and lost wages. Each and every state has its own Workers Compensation Laws and they offer several benefits such as—
- Medical benefits that include travel cost including medication, hospital stays, etc.
- If the injured employee is not in a position to return to his original field work, he/she is assigned in a different field.
- If the injured employee becomes disabled, temporarily or permanently, he gets paid time off work.