Workers' Compensation Insurance
Workers' Compensation is insurance coverage purchased by the employer/business
that provides benefits for job-related employee injuries. Florida law requires
all employers to purchase workers' compensation coverage (with a few exceptions).
Under a workers' compensation policy, employees are compensated for
occupationally incurred injuries, regardless of fault. This coverage makes
employers immune from some injury lawsuits by employees. In Florida, the
Division of Workers' Compensation within the Department of Financial Services is the primary regulator for ensuring employees receive the proper benefits under this
coverage, which includes benefits for medical expenses, disability, or death.
The Office of Insurance Regulation primarily regulates the rates, forms and
solvency for this type of coverage. The amount of compensation is established by law.