If a worker employed by you suffers a workplace injury or disease, the workers compensation scheme may provide the injured worker with weekly benefits, medical and hospital expenses, rehabilitation services, certain personal items and a lump sum payment for permanent impairment on the basis set by the particular scheme.
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The amount of workers compensation premiums that your business must pay is regulated by the state government based on a particular formula used in that state. Generally, it is based on the amount of wages that you pay your employees, as well as the industry your business operates in and the claims history of your business.
Types of workers compensation claims: Falls and slips at work, Rehabilitation costs, Wages while unable to work, Medical Expenses, Transportation Incidents, Contact with objects and equipment, Exposure to harmful substances, Fires and explosions, Violence and other unjuries by persons or animals, Overexertion, Electrocution, Impact incidents..
Higher Risk Occupations: Some business occupations and activities are at a higher risk of having a workers compensation claims. It is these occupations that are generally faced with high premiums for example; Transport Operators, Roofers, Logging Workers, Steel Workers, Farmers, Labour Intensive Occupations, Electricians, Power Line installers etc.