Workers Compensation Insurance is an insurance that, as the name suggests, covers a business for injuries or accidents that an employee may sustain on the job. It also will cover things such as occupational diseases that (if proven) were developed as a result of the job or the place of employment.
Even if the employee who develops this disease contributed to it himself, there may still be liability on the part of the employer. So if you run a coal mine and one of your guys gets emphysema, it probably will not win you any favors to point out that this employee has been a smoker for the last twenty years. Fault is not an issue.
Every state is required to have Workers Compensation Insurance (although different occupational codes and different sizes of businesses affect the details of this.) Workers Compensation Insurance Companies can give you all the details that you need. You can also avail compensation insurance via wynninsuranceagency.com/workers-compensation.html.
Workers Compensation Insurance Companies apply various rates; these pertinent rates are often laid out for a three year period. After that time, the insurer who you deal with will have a solid idea of how many claims you submit.
If you are not submitting a lot of claims compared to other similar businesses in your area, then you may be entitled to a reduced rate. It is also common for insurers to offer a partial refund of their premium (in the form of a 'dividend') if you prove that you are building 'safe practices' into your business.
So, Workers Compensation Insurance, as all other types of insurance has a range of deals: it is important to shop around (or let someone else shop around) for the best deal tailored to your needs.