Workers Comp 4 Small Business

Workers Comp Insurance is the law. The question is: How does the law apply to your Small Business?

Workers Comp laws are generally in effect in all 50 states, in D.C. and all U.S. territories. Those laws spell out the requirements for most employers.If you have employees, in the strict legal sense, Workers Comp Insurance is almost certainly required by your state, but . . . the nature of your business and certain of its characteristics determine whether your state requires it or not.

What are the risks if I don’t choose coverage?

If a worker’s injury or work-related illness occurs in your workplace, Workers Comp Insurance can, in most cases, cover that worker’s healthcare costs and even replace a portion of their lost pay. Without insurance, you will very likely face the legal claim, all court costs, and financial liability alone. The monetary costs could be devastating.