Understanding Guam Workers Compensation: Essential Coverage for Your Business
As a business owner in Guam, ensuring the safety and well-being of your employees should be a top priority. One critical aspect of protecting your workforce is obtaining Guam workers compensation insurance. Not only does this coverage comply with legal requirements, but it also provides financial security in the event of workplace injuries or illnesses. This blog delves into the importance of workers' compensation and how it ties into comprehensive insurance coverage in Guam. What Is Guam Workers Compensation? Guam workers compensation is a mandatory insurance program designed to protect employees who suffer injuries or illnesses while performing their job duties. It provides financial benefits such as: Coverage for medical expenses Wage replacement during recovery Rehabilitation costs Compensation for permanent disabilities This insurance safeguards both employees and employers, ensuring that workers receive proper care while reducing the risk of lawsuits against the business