If you have one or more employees, Workers Compensation Insurance must be on your list of necessary purchases. Oklahoma requires every employer to carry this insurance coverage when subject to the provisions of the Workers' Compensation Act.
Workers Compensation Insurance is a type of insurance that covers the medical expenses, rehabilitation costs, income replacement, and some death benefits of employees who are injured on the job or have a work related illness. Workers Compensation Insurance protects workers by compensating them for their injuries. The employers are relieved of liability for claims and they will have legal protection and immunity from most employee injury lawsuits.
The cost for this type of insurance is determined by the Workers Compensation board and the premiums are subject to increase or decrease, based in part on your business' risk classification and safety records. At All American Insurance, we understand Workers Compensation Insurance can be a large expense to your company. Our agents are dedicated to helping you cut costs and increase safety to insure you have the coverage designed to fit your needs.