Workers’ compensation insurance protects employers and employees in the event of an accident. It covers medical care and certain lost wages—and safeguards employers from being sued.
Most states, including Colorado, require that all businesses carry workers’ compensation coverage as soon as they hire their first employee. Cake is currently available for businesses that operate in the state of Colorado, as well as other states they may operate in nationwide.
Workers' comp ensures employees receive the care and treatment they need to get healthy. A business owner can't protect against everything that could happen, so workers' comp is there in the event of a workplace injury. And in the event of an unfortunate work-related death, workers’ compensation pays benefits to the family.