Many small businesses are purchasing workers' compensation insurance coverage without understanding how it works, according to a recent national survey conducted by EMPLOYERS.
The survey found that 14 percent of small businesses could not name their insurer. Thirteen percent do not understand how workers' compensation insurance protects employees with work-related injuries or how it can protect their small business against catastrophic claims.
More than half of the survey respondents dissatisfied with their workers' compensation carriers use state funds. State funds appeal to many small businesses that have little knowledge of workers' compensation insurance.
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