It is not known for sure if actuaries existed in ancient times, but there is evidence to suggest that there were values placed on body parts that a worker might injure or lose. It was during these times when the difference between an impairment (loss of use of a limb or loss of eyesight for example) and a disability (loss of abilities to do something like lifting or pulling a load) was first used to determine any compensation to the injured person.
We move forward to the middle 1850s. The Bessemer process for the mass production of steel was patented in 1855 and was the catalyst for what is called the 2nd Industrial Revolution The price of steel dropped low enough to build tall skyscrapers and machines for manufacturing.
Those days were not kind to workers toiling in the unsafe factories under sometimes extreme conditions. The labor movement was still in its infancy and any “legislation” to compensate workers for injuries was tilted heavily in favor of the employer. Just to get the job a worker might have to sign away any rights to compensation and “assume the risks”.
In 1906, a novel titled “The Jungle” by Upton Sinclair raised the public’s awareness of the deplorable working conditions in the slaughterhouses of Chicago. By 1948, every state had workman’s compensation laws to provide medical and lost wage payments for job-related injuries. The only “favor” granted to the employer is that the employee could not file a lawsuit for any injury unless they waived all their workman’s comp benefits.
Why Your Business Needs Houston Workman’s Comp Insurance
The result is that while employers in the state of Texas are not required to have workers compensation insurance, most of them do have it to avoid being hit with a high dollar negligence suit rewarding the injured party with a huge “pain and suffering” settlement. The normal policy will provide income, medical care, and rehabilitation services to the injured person.
TWFG Khan Insurance Services can provide Houston workman’s comp insurance at the best rates available anywhere. TWFG Khan Insurance Services represents multiple companies, so you know that our quotes will be very competitive and up to date.
Employers can also do a lot to reduce workplace injuries by following guidelines established by the Occupational Safety and Health Administration (OSHA) that has tips on how to exceed compliance regulations, increase safety and improve that bottom line for your business.
Workers Compensation insurance is just one of the many insurance products sold by TWFG Khan Insurance Services in Houston. Policies are geared to many industries including Food and Beverage, Manufacturing, Automotive and even Churches. An example of how policies are industry-specific is the Farm & Ranch policies that include Multiple Peril Crop Insurance (MPCI). Another example is the option of a Liquor Liability Insurance. This might not be appropriate for a church, but it will certainly be an option that the owner of a Biker Bar might consider.
If you are a business owner lacking Workers Compensation your risk of getting hit with a lawsuit increases every day. Call TWFG Khan Insurance Services in Houston at 713-388-6681 for a no-cost quote on an insurance package that will fit your business to that proverbial “T.”