Does Workers Compensation Insurance apply to your business?

Let's say you’re the owner of a flower shop with four employees located in the great city of Brooklyn. You have done everything you needed to do to protect your business from liability to customers and patron of your storefront. So far, it seems like all bases are covered. However, there is one thing missing that can put your business at great risk.

While you have protected your business from patrons of your establishment, what about your employee? Did you know that many companies regardless of size are greatly impacted by suit due to injuries that happens on the job? Well we have great news Workers Compensation Insurance can protect your employees for on the job injuries.

What Does Workers Compensation Insurance do?

Workers compensation insurance covers the cost of medical care and rehabilitation for workers injured on the job. It also compensates them for lost wages and provides death benefits for their dependents if they are killed in work-related accidents, including terrorist attacks. The workers compensation system is the “exclusive remedy” for on-the-job injuries suffered by employees.

What about off the job injuries?

States like New York and New Jersey requires employers to purchase an additional coverage, which allows employees to be covered for off the job injuries. This coverage can be paid for a minimal premium solely by the employer or with contribution from the employees, and covers up to 60% of wages (max benefit applies). This plan typically covers the 6 months of wages paid prior to any other disability benefit kicking in.
Get more information on State Disability Benefit Insurance.

Read more about the penalties and liabilities for not have State Disability Benefits. Primary