Workers Compensation Insurance Illinois also known as workers’ comp insurance or workman’s comp provides benefits to your employees if you got a work-related injury. This policy will help you to pay the employee’s medical bills and also replace the lost wages. In Illinois, workers compensation insurance doesn’t provide benefits for illness or injury resulting direct or indirect due to unknown causes. It is estimated that the Workers compensation act over 91% of employees in Illinois.
Illinois Workers’ Compensation Laws:-
Before buying workers’ compensation insurance in illinois, you want to make sure that you’re familiar with the Illinois Workers’ Compensation Act. You’ve to remember a few things that are mentioned in Illinois workers’ compensation laws:
- If the employees are your family member then you’ve to purchase the worker’s compensation insurance.
- Willingly and knowingly not getting coverage means you face a minimum fine of $10,000.
- An injured employee has to inform the employer about the injury or illness within 45 days.
- Illinois’ Department of Employment Security publishes updated average weekly wages every six months.
Cost of Workers Compensation Insurance:
The average cost of workers’ compensation in Illinois is $38 per month. The cost of workers’ compensation is calculated on the basis of 9 cents per every $100 in payroll. There are three working days for filing the working compensation in Illinois. If the employee is still hurt and sick then it will get workers compensation insurance benefit on the fourth day.
If the employee misses two calendar weeks of work, they can receive payment for the workdays that they weren’t paid for during the initial waiting period. The benefit provides in a continuous way until the employee recovers.
Top Companies for Workers Compensation Insurance in Illinois:
Here we’re going to tell you the four top companies of Workers Compensation Insurance Illinois:
| Company Name | Medical Benefits | Death Benefits | Lost wages | Temporary Disability Cost | Job Replacement |
| AF (Accident Fund) Group | ✔️ | ✔️ | ✔️ | ✔️ | ✔️ |
| American International Group | ✔️ | ❌ | ✔️ | ✔️ | ❌ |
| W. R. Berkley Corporation | ✔️ | ❌ | ✔️ | ✔️ | ❌ |
| CopperPoint Insurance Company | ✔️ | ❌ | ❌ | ✔️ | ❌ |
AF (Accident Fund) Group –
| Company Name | AF (Accident Fund) Group Company |
| Established | 1912 |
| Website | www.afgroup.com |
| Address | 1700 E Higgins Rd 320, Des Plaines, IL 60018 |
| Annual Revenue | $1.9B annually |
| No. of Employees | 3,000 employees |
| Contact Number | (847) 296-0655 |
Accident Fund Group Insurance Company offers workers’ compensation insurance policies, loss control consulting, and risk management services to businesses. It is a premier provider that provides innovative and effective solutions committed to leading the industry with underwriting and exceptional medical management strategies.
AIG (American International Group) –
| Company Name | AIG (American International Group) Company |
| Established | 1981 |
| Website | www.aig.com |
| Address | 500 W Madison St, Chicago, IL 60661 |
| Annual Revenue | $56.437 annually |
| No. of Employees | 49,600 employees |
| Contact Number | (312) 930-5394 |
AIG stands for the American International Group which is an international insurance organization. It provides a variety of insurance and other innovative financial services. It offers a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers.
W. R. Berkley Corporation –
| Company Name | W. R. Berkley Corporation |
| Established | 1967 |
| Website | www.berkley.com |
| Address | Naperville, IL 60563 |
| Annual Revenue | $11.167B annually |
| No. of Employees | 7,448 employees |
| Contact Number | (630) 210-0435 |
W. R Berkley Corporation is established in 1967 as an insurance holding company. It is one of the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance. This company offers a wide range of workers’ compensation coverages in most states.
CopperPoint Insurance Companies –
| Company Name | CopperPoint Insurance Company |
| Established | 1925 |
| Website | www.copperpoint.com |
| Address | 1807 Diehl Rd #105, Naperville, IL 60563 |
| Annual Revenue | $150.0M annually |
| No. of Employees | Over 800 Employees |
| Contact Number | (630) 940-5693 |
CopperPoint is a western-based workers’ comp and commercial p&c insurance company that is expertise in insurance for nearly 100 years. It basically focuses on workers’ compensation insurance and commercial insurance in the Western United States. It is a super-regional group of insurance companies which is founded in 1925.
How to File a Workers Compensation Claim in Illinois?
Here we’re going to tell you the steps for filing the workers’ compensation claim in Illinois:
- First, notify your supervisor or manager about the injury or illness as soon as policy.
- Seek Medical Treatment – This step is important to be done as soon as possible. Ensure that the doctor or physician knows that this is a work-related injury so bills go to your employer’s insurance carrier.
- Complete document work for Injury – Write the time, date, and description of the accident. Fill in the required details like the name of the employee who is injured and if it is possible then take a picture of the accident scene.
- Select your Doctor – Witnesses have the right to select a doctor for treatment. If it’s not possible then your manager can refer you to the doctor according to Preferred Provider Program (PPP).
- According to PPP, you’ve two choices: one is if you’re denied to see the PPP, and the second one is choosing your own doctor – and asking him/her to refer you to any other doctors needed for your treatment – you retain control of your medical needs.
- Check the Claim Status – The employer is supposed to file a claim 45, known as the “First Report of Injury” with the Illinois Workers Compensation Commission (IWCC) within five days of being notified about an injury. You can check your claim status on IWCC’s Website.
The Final Thoughts:
In this article, you got sufficient information about Workers Compensation Insurance Illinois. You can also get to know more about some other states’ workers’ compensation policies like workers compensation insurance Florida, workers compensation insurance NC, and workers’ compensation insurance NJ. You can go through with given links.