Florida Workers CompensationCommercial / Property
Also known by variations of that name, (e.g., workman's comp, workmen's comp, worker's comp, compo) offers payments to employees who are (usually temporarily, rarely permanently) unable to work because of a job-related injury. However, workers' compensation is in fact more than just income insurance. It compensates for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form of health insurance), and benefits payable to the dependents of workers killed during employment (offering a form of life insurance). Workers' compensation provides no coverage to those not working. Statistics have shown that the majority of disabilities occur while the injured person is not working and therefore is not covered by workers' compensation.
Workers' compensation is a form of insurance coverage providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
The trade off between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain".
Though there are several carriers that do the different classes of work, there are some high risk work classes that can only be covered through Florida Workers Compensation Joint Underwriting or FWCJUA, like roofing, etc.
If you have any questions about about workers' compensation, please call our Orlando, Florida office and speak with one of our licensed and experienced agents! They will be able to assist you with additional information.