Employers, you may think that your workplace is safe, but what happens when there’s an accident? When an employee is injured on the job, rely on workers’ compensation to step in to help. Workers’ compensation insurance in New York assures that injured workers get medical care and compensation for their loss of income while they are unable to work, all the while protecting employers from lawsuits by injured workers.
If your company has even one employee, you must secure workers’ compensation insurance. Without it, you’re breaking the law and putting your business at risk of financial strain. The New York’s Workers’ Compensation Law requires all employers to obtain this insurance unless the employer is authorized to be self-insured.
Certain businesses will have a higher risk of danger to employees. If your team is required to drive to make deliveries, handle dangerous equipment, or use heavy machinery, it’s important that you consider higher limits for workers’ compensation. With more risks comes a greater chance that one of your members will be hurt and put your business in a compromising position. Injuries and deaths from workplace violence, terrorist attacks, occupational diseases, and natural disasters are typically covered in a policy, too.
Workers’ compensation insurance provides the injured workers with medically necessary and appropriate treatment. In return for this, employees cannot sue your business for their loss or your negligence. Protecting employees and your business in one has never been easier.
No business wants to face high premiums or expensive treatment. With rising costs of medical solutions, it’s wise for businesses to stay ahead of the game with safety measures and operational protocols. While your business needs workers’ compensation insurance, you can prevent injured employees and high outgoings by creating a safe workplace for all. Implement safety training and uphold high standards to prevent injuries from occurring.