This is a statutory insurance for you as an employer, to insure your employees in the course of employment under the Work Injury Compensation Act.
Even if you ensure that the workplace is safe, accidents happen. When they do, workers compensation insurance provides coverage.
Work Injury Compensation Insurance serves two purposes: It assures that injured workers get medical care and compensation for a portion of the income they lose while they are unable to return to work; and it usually protects employers from lawsuits by workers injured while working.
This insurance provides cover for a lump sum compensation for death or permanent incapacity, lump sum compensation for death or permanent incapacity medical expenses, and medical leave wages.