Helpful Small Business Insurance Terms and Definitions
General Liability Insurance
Professional Liability Insurance
Errors and Omissions Insurance
Cyber Liability / Data Breach Insurance
Workers' Compensation Insurance
Business Owner’s Policy
Data Breach Insurance
Certificate of Liability Insurance
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Certificate of Liability insurance
Business insurance coverage that helps employers pay for medical expenses in the event that an employee suffers from a work-related injury or illness.
Most of the time, a Workers' Compensation policy also reimburses employees for the wages they lost while they couldn't work.
Workers' Comp pays for medical expenses for employees and salaries for injured workers, as well as the employer's cost of a Workers' Comp lawsuit.
Ex: An employee falls down the stairs at work and breaks his leg. His employer's Workers' Compensation Insurance covers his ambulance, hospitalization, and other medical bills.
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