Thankfully, the barbershop owner has a Workers Compensation policy in place and submitted a claim immediately following the incident. The claim was approved and covered Alex’s medical expenses, including hospital bills and any necessary rehabilitation. Additionally, the policy provided income replacement benefits, ensuring that Alex received a portion of his lost wages during his recovery period.
But it didn’t stop there. Workers Compensation coverage also protects the barbershop itself. In this situation, the policy would cover any legal expenses that may arise if Alex decided to file a claim against the barbershop for the injury sustained. This coverage helps safeguard the business's financial stability and reputation.
Without Workers Compensation coverage, both Alex and the barbershop would be vulnerable to consequences. Alex would have been responsible for his medical expenses and would not have been paid at all during his time spent recovering. Additionally, the barbershop owner would have been responsible for all legal expenses. Workers Compensation coverage provides peace of mind, knowing that accidents can happen, but the financial burden doesn't have to fall solely on the business or the injured employee.
For more information, contact the Victor Small Business team at info.smallbusiness@victorinsurance.com.
* The claims scenario is strictly documented for illustrative purposes only and provides an example of what a policy could cover. It is intended to provide a general overview of the program described. Please remember only the insurance policy can give actual terms, coverage, amounts, conditions and exclusions. Program availability and coverage are subject to individual underwriting criteria.
