Although workers may adhere to workplace safety guidelines, accidents may still happen and cause employee injuries. Therefore, it is an essential requirement for an employer in Oregon to have Oregon workman’s comp insurance because it protects the employer from costs associated with workplace accidents. The workers’ comp insurance division regulates the process for obtaining and claiming insurance.
Types of Workers’ Comp Insurance
Medical coverage: This coverage provides medical benefits to employees injured while at work. It covers medical bills such as surgeries, doctor’s appointments, and medications.
Wage replacement coverage: This coverage benefits employees who cannot work due to work-related accidents or illness. It covers a small portion of the employee’s lost wages and vocational rehabilitation services to help the employee get back to work.
Combined medical and wage replacement coverage: This provides medical and compensation replacement benefits to injured employees.
Employer’s liability coverage: This protects the employer against lawsuits filed by the employer; it covers legal defense costs and any damages.
Self-insured coverage: Self-insured employers must meet a particular financial requirement and follow stipulated rules and regulations. In this case, the employer doesn’t purchase insurance from a carrier but self-insures their employees.
Obtaining Workers’ comp insurance in Oregon
The process of obtaining Oregon workman’s comp requires the employer to make an application. The application process entails writing to the workers’ compensation insurance division and providing detailed information about the business such as the location, industry, and number of employees. The agents in the insurance company will conduct audits and craft a suitable insurance policy for the employer.
Once an employer has acquired workers` compensation insurance, they must post in a visible workplace location. This information must include the policy insurance, insurance carrier, and instructions for reporting injuries.
Workers’ Comp Insurance Process
- The process of obtaining Oregon workman’s comp insurance benefits can be broken down as follows:
- The first step is informing the employer about the injury or illness after an accident. It must be within 90 days of the incident or onset of symptoms.
- Fill out the claim form that the employer will provide. Ensure to provide detailed information about the injury, including when, where, and how it happened.
- Your employer will submit your claim to the workers’ comp insurance commission.
- Review of the claim: The insurance commission will then review the claim in case they need clarity and provide additional information, such as medical records and witness testimonials. Once your claim is approved, you will receive your benefits.
Workers’ compensation insurance in Oregon is put in place to protect the employer and the employees who get injuries at work. In Oregon, every employer is required by law to have workers’ compensation insurance to ensure that employees receive financial compensation and medical treatment, among others, in case of a work-related injury or illness.
The workers` compensation division closely monitors the process for obtaining workers` comp insurance and making claims. In general, Oregon’s workers` compensation insurance provides a safety net or assurance for injured workers that they receive for them to return to work.