Workers compensation is an insurance policy that provides financial protection to employees who suffer work-related injuries or illnesses. It covers the medical expenses, lost wages, and rehabilitation costs incurred as a result of work-related accidents or illnesses. It also protects employers from lawsuits arising from work-related injuries or illnesses.

Workers compensation is crucial for both employees and employers. For employees, it offers the peace of mind that they will be covered if they get injured or sick at work. For employers, it satisfies legal requirements for providing a safe working environment and helps to minimize legal liabilities.

Workers compensation policies can be tailored to fit the needs of individual businesses, and premiums are determined by the risks involved in the industry and the size of the company. It is a wise investment that ensures protection for businesses and their valuable employees.