Workers’ Comp Insurance VA

Under Virginia law, workers’ comp death benefits include the following:

• Dependents may receive up to two-thirds of the employee’s average weekly wages in weekly payments for up to 500 weeks from the accident date.
• Survivors may receive up to $10,000 for burial expenses.
• Survivors may receive up to $1,000 for transportation expenses.

Workers’ compensation settlements often work in the best interests of all parties.

For instance, employees can settle their claims faster and receive compensation almost immediately. It also benefits employers. The process involves the employee and their attorney sitting down with the insurance company and its attorney(s) to find a solution that works for everyone.

The settlement agreement must be signed by the employee or their survivor(s), an employer rep, and the insurance company. It must also be filed with Virginia’s Workers’ Compensation Division after being approved by a sitting judge and should contain specific elements, including:

• A notarized affidavit stating that the employee or their survivors understand the terms of the agreement
• A petition describing the terms of the agreement
• A medical statement that describes the employee’s condition
• A proposed settlement order
• A statement of the employee’s legal fees

Like most states, Virginia limits workers’ compensation claims to two years from the date of the injury and does not offer extensions for diseases or injuries discovered after that.

All executives and corporate officers are considered employees for the sake of the count, but they can reject coverage if they so desire. For that to work, the business must have workers’ comp coverage for other eligible employees. The employee rejecting coverage must file a Rejection of Coverage form with the state’s Workers’ Compensation Commission, as well as with the company’s insurance company. 

Note that the same rules apply to LLC members, but not to executive non-compensated officers of 501(c)(3) organizations.