Worker's Compensation Insurance
Home Worker's Compensation Insurance
Worker's Compensation Insurance
If you have employees working for your business, there are legal requirements that you need to ensure that your employees have safe working conditions and that you do your best to prevent injury to each and everyone of your workers. However, there are times, when accidents occur even in the safest of workplaces or businesses and as a business owner you want to protect yourself from law suits that could bankrupt your business and you personally. Worker's compensation insurance will protect you from lawsuits brought by employees for injuries that occur in the workplace and will help reimburse your employee for lost wages and medical costs. New York requires all employers to carry Worker's compensation insurance.
What Exactly is Worker's Compensation Insurance?
Worker's compensation insurance is a form of insurance that provides wage replacement and medical benefits for employees who are injured in the course of their employment in exchange for the mandatory relinquishment of the employee's right to sure their employer for their injury.
Provisions Under Worker's Compensation
The Provisions under worker's compensation are determined on a case by case basis, based on the injuries the workers suffer, their medical expenses and needs, and the length they are out of work. Provisions include:
- Weekly payments to the worker for the length of time they are out work
- Compensation for economic loss should the worker be unable to return to work
- Reimbursement for medical expenses related to the work place injury
- Disability payments either temporary or permanent
- Benefits to dependents in the case of the employee's death resulting from their work place injury.
- Legal representation of the employer if such a need arises
All worker's compensation insurance payments are paid by the employer and it is illegal for the employer to charge or with hold any portion of an employee's wages in order to pay for the insurance.
What Workers Compensation Does Not Cover
Worker's Compensation does not cover any injury caused by the employers negligence. Neither does it cover employees who are injured due to an assault by the employer or other employee and the worker has the right to pursue legal damages in such cases.
The amount you as an employer will pay in worker's compensation is calculated by every $100.00 of payroll and is based on:
The number of employee’s you have working for you
Job classification your employees are given (some jobs have more risk of accidents than others)
And your company’s claim history
When Shopping around for worker's compensation insurance we'd like you to consider our company here at Greenline Insurance Brokerage.
We provide competitive insurance rates for businesses requiring worker's compensation, and we handle claims quickly and effectively never leaving you or your employee hanging. Why not give us a call at 1-718-861-2000 or stop by our office at 3387 3rd street in the Bronx and let us know how we can be of assistance to you.
- 3387 3rd Ave 2FL Bronx, NY 10456
- 620 Coney Island Ave Brooklyn, NY 11218