Most companies in Virginia strive to protect the health and safety of workers, but sometimes accidents happen. Luckily, most businesses and companies in the commonwealth are required by law to carry an insurance policy that offers Virginia workers’ compensation benefits to an injured employee in the event of an accident; however, many businesses will see a change in pricing for these policies in the new year.
According to an article from the Augusta Free Press, the State Corporation Commission has approved changes to the law proposed by the National Council on Compensation Insurance. The reforms will result in a majority of employers seeing an increase in costs for Virginia workers’ compensation benefits insurance.
Coal mining operations are expected to see the greatest increases in cost, with coverage for underground operations spiking by more than 10 percent while surface operations could see costs swell by as much as 15 percent.
So what do these increases in costs mean for workers? Some experts believe it could result in more employers failing to procure coverage or report accidents. The rise in costs could also lead to more conservative decisions being issued on new Virginia workers’ compensation benefits claims.
The Norfolk personal injury attorneys with Lowell Stanley Injury Lawyers say these are just a few reasons why its so important to have legal representation by your side if you’ve been injured on the job. Our team of lawyers is here to help. Call us today at (757) 459-CASH for a free consultation of your case if you’ve been seriously injured while working.