Beginner's Guide to Workers Compensation Insurance
Workers compensation insurance is an insurance policy carried by businesses that covers the medical costs and a portion of lost wages for an employee who is injured on the job. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. Workers compensation insurance must be bought as a separate policy.
In some states small businesses with fewer than three to five employees may not be required to carry workers comp. insurance. If your insurance premium is in excess of $5,000, you should have a plan that pays you back a dividend based on your claims history.
If you cannot find an insurance company that will sell you workers comp. insurance, you may buy coverage from the state's "assigned risk pool," now operated by Travelers Commercial Casualty Company. However, even if family members are excluded, they are still counted towards the number of employees to determine if you are required by law to carry this type of insurance.
Many people are involved in an employee's claim, including individual workers compensation insurance companies, physicians, case managers and management staff from the employer. Owners of for-profit corporations are exempt from workers comp. insurance however non-profit companies do not get the exclusion. To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers comp. insurance.
Action Steps
The best contacts and resources to help you get it done Workers compensation insurance. For an overview of workers compensation laws in your specific state, you should seek advice from an attorney specializing in this area. To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy this insurance.
Conclusion
Employers failing to comply with these laws may be subject to penalties by the state and, in addition, may lose protections afforded them by workers' compensation insurance and the laws of the state. If an employer continues to disregard the legal requirement to obtain workers' compensation insurance, the ICA may assess additional civil penalties against the employer, up to $10,000 and may obtain an injunction to close the employer's business until the employer complies with the law to obtain workers' compensation insurance.
Insurance,Lawyer,Mortgage,Attorney,Donate,Conference call,Degree,Credit,Electricity,SEO,World Trade Center Footage,Webex Costs,Virtual Data Rooms,Structures Annuity Settlement,Sell Annuity Payment,Neuson,Online Classes,Nunavut Culture,Online College Course,Motor Replacements,Motor Insurance Quotes,Mortgage Adviser,Met Auto,Mesothelioma Law Firm,Massage School Dallas Texas,Low Credit Line Credit Cards,Life Insurance Co Lincoln,Insurance Companies,Injury Lawyers,How to Donate A Car in California,Home Phone Internet Bundle,Holland Michigan College,Royalty-Free Images Stock,Register Free Domains,Psychic for Free,Ph.D. in Counseling Education,Personal Injury Lawyers,Personal Injury Law Firm,PaperPort Promotional Code,Online Stock Trading,Online Motor Insurance Quotes,Donate your Car for Money,Online Colleges,Health Records, Personal Health Record,Hard drive Data Recovery Services,Donate Old Cars to Charity,Forex Trading Platform,Forensics Online Course,Donate Car to Charity California,Donate Car for Tax Credit,Car Insurance Quotes PA,Email Bulk Service,Donating Used Cars to Charity,Donating a Car in Maryland,Donate Your Car Sacramento,Online Criminal Justice Degree,Donate Your Car for Kids,Futuristic Architecture,Donate Cars in MA,Data Recovery Raid,Dental seo company,Seo reputation management,Seo copywriting services,International seo services,International seo agency,Seo for plumbers,Seo marketing experts,Seo for ecommerce website,B2b seo services,Best cloud hosting for wordpress,WordPress hosting services,Dreamhost web hosting,Best wordpress hosting,WordPress cloud hosting,Best managed wordpress hosting,Premium wordpress hosting,Fastest wordpress hosting,Dedicated wordpress hosting,WordPress vps hosting,Cloud based hosting providers,Best wp hosting,WordPress domain and hosting,WordPress hosting,Best magento hosting,Month to month web hosting,Vps wordpress,WordPress hosting sites,Best wordpress hosting sites,Auto insurance quotes,Workers compensation insurance,Car insurance quotes,Compare car insurance online,Buy car insurance online,Auto insurance,Commercial auto insurance,Small business insurance,Professional indemnity,General liability insurance,e&o insurance,Business insurance,Car insurance,Insurance quotes,Insurance,Loans,Mortgage,Attorney,Credit,Lawyer,Donate,Degree,Hosting,Claim,Conference Call,Trading,Software,Recovery,Transfer,Gas / Electricity,Classes,Rehab,Treatment,Cord Blood
Post a Comment for "Beginner's Guide to Workers Compensation Insurance"