subject: Workers Compensation Insurance Available Online [print this page] Workers Compensation Insurance Available Online
Two businesses can't be similar either on the operational front or on requisite. When it comes to workers compensation needs and options vary according to the state the company or employee operates in. Options are available for insurance online for employees.
Because state laws differ, some companies may not be required to have workers comp insurance. Companies need to determine their individual general liability insurance requirements. Protect your business with the right insurance that will work for you in case of accidental employee injury or even death. Learn the various programs available in your state to decide which program works best in your corporate situation.
Insurance Requirements in California
In the state of California the legal status of your company will impact whether California workers compensation insurance is obligatory. Sole proprietorship companies have an option to have compensation insurance. On the general side, California law stipulates that any company must carry compensation insurance for all employees, no matter the number. Employees may be temporarily or permanently employed.
If a company has employees working in the state of California, compensation insurance is also required no matter where the company is headquartered. Complying with insurance laws in California is a requirement. Businesses must be insured to protect employees from injuries sustained in the workplace.
Compensation Insurance Premiums for Businesses
Insurance premiums are determined annually. Costs vary according to a variety of pre-existing factors. Costs make be reduced, if your company is eligible to participate in group of divined programs. Your company history of work related injuries and the industry in which you operate are major factors in determining premiums. Risk of injury is elevated depending on the industry.
Businesses are required to insure themselves. Non-compliance with insurance laws can result in direct fines and orders to stop operating until insurance is purchased. Penalties for companies that are not protected by workers compensation insurance vary and can be expensive.
Uninsured Businesses are Still Responsible
Employees that become sick or injured at the job are still legally entitled to get compensation from businesses even if they are not properly insured. Those businesses will still have to incur the health related costs of injured persons that were employed on a part or full time basis. Workers-compensation-insurance also protects businesses from civil lawsuit action initiated by injured or sick workers. States may even tack on thousands of dollars in penalties for operating without sufficient insurance coverage as required by law.
Determine what your specific business insurance needs are by state. The numbers of employees working under a company determines what the insurance requirements are. Some states no longer have exemptions status for employers.
Familiarize yourself with the laws of your state before making any decision about workers compensation insurance. There are alternate means of purchasing insurance for companies. Third party companies are useful in helping keep insurance requirements met for businesses.
Contact your local state entity to get questions answered about your individual situation. Contact information for insurance entities in your state is available online.
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