As a business owner, you do everything you can to protect your employees from potential dangers, but do you have workers compensation protection? Most business owners understand that workers compensation is important, but did you know that if you have employees, it is required by law for most businesses to have coverage?
For anyone who is classified as an employee, it is required by law to provide them with workers compensation coverage. Employees can opt out of coverage, but if you do not offer it, you can be fined up to $2,500 a day and can face a Class D felony charge with a mandatory minimum one year prison sentence.
Policies can provide coverage for:
- Medical expenses
- Lost income/wages
- Rehabilitation costs
- Death benefits and more…
Examples of Incidents Covered by Workers Compensation
- A trip and fall while at the job site or in the office results in a sprained knee with three months of physical therapy needed.
- Whether swinging a hammer or using a computer, the employee develops wrist problems and must have carpal tunnel surgery.
- An employee complains of continued dizziness and headaches from a solvent used on the job site or from the adhesive used to put in the new office carpet.