Industrial Insurance

Definition - What does Industrial Insurance mean?

Industrial insurance is a policy that covers an employee in case they suffer from a work-related injury that prevents them from working and earning income. While available in all fifty US states, the features tend to vary from one state to another.

In the United States, this kind of coverage is more widely known as worker's compensation insurance.

Insuranceopedia explains Industrial Insurance

Industrial insurance is purchased by the employer or business owner for the employees. It usually pays for work-related injuries or on-the-job accidents and does not cover an injury that has occurred outside the workplace.

Industrial insurance varies from state to state. The differences might be in the coverage or the requirements needed to avail of this insurance. In some states, the number of employees dictates whether one should get this insurance. In other states, the nature of the work (and possibly the physical hazard inherent in it) is a reason to get it.

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