If you are a new entrepreneur, you are likely learning many different rules and regulations that are necessary to keep your business running smoothly and your company in good standing with the law. One of these regulations is workers’ compensation insurance, which employers are required to have, though the laws may vary from state to state. As Palm Beach workers compensation lawyers Franks, Koenig & Neuwelt explain, in the state of Florida, for instance, employers are generally required to provide workers compensation insurance if they have four or more employees. However, in industries such as construction, employers are required to provide this insurance for even a single employee.
What does workers compensation insurance do? It provides security if one your employees is injured at or while performing work for you. As Elizabeth NJ workers compensation attorneys Rispoli & Borneo explain, workers compensation insurance is meant to cover the wages lost during a worker’s recovery period, as well as medical and therapy costs, and transportation to and from treatment. Certain industries such as healthcare, or any “hard hat” industries, are more likely to see work accidents or work-related illnesses. Thus, if you are say, a cosmetic dermatologist in Washington DC, or a general contractor in Palm Beach FL, it is especially important for you to secure good insurance as an employer. Otherwise, you may face a court case and have to contend with a Palm Beach Gardens workers compensation lawyer or a Washington DC personal Injury lawyer.
Be sure, if you are an employer, to familiarize yourself with your state’s workers compensation insurance regulations, and ask other business owners about the policies they have chosen. Consult with a few workers’ compensation insurance providers before committing to a decision. Perhaps even talking to a workers compensation lawyer in Palm Beach County, a work injury lawyer in Elizabeth NJ, or your own area, may prove helpful.
Whether you are a doctor for skin cancer in Vienna VA, or a general contractor in Palm Beach FL, you must provide workers compensation insurance for your employees. Even if your job does not pose the risks of heavy lifting or health care, accidents can happen in any workplace, and you would be wise to ensure the safety of your employees, to avoid greater costs and penalties down the line.