As a business owner, you want to keep your employees protected from potential dangers, even if your employees are working in another state. Workers compensation insurance is not only important coverage to have for your small business, but also required in the state of Connecticut.
The workman’s comp policy ensures that employers pay specific benefits to workers who are injured, made ill, or killed during their employment with the company. An insurance policy for workers compensation provides coverage for:
- Medical Expenses
- Lost Income/Wages
- Rehabilitation Costs
- Death Benefits
- And more…
Workers comp policies were first enacted for fair and quick compensation to workers injured on the job. Although the benefits offered are not as inclusive as those given to workers injured outside of the workplace, the employee advantage of this coverage is not having to prove that someone was at-fault in order to receive coverage. This is because workers compensation operates under a “no-fault” system, similar to no-fault medical coverage under a home insurance policy. The employee only has to prove that he or she was doing his or her job at the time of the accident to receive benefits. There are however exceptions which prohibit injuries from intoxication or horseplay, for example. In any case, you won’t want to be found liable, so make sure you have the coverage you need to protect your business.
While employees can opt-out of coverage, a business owner is required by CT law to provide the option for workers compensation insurance. If not offered, your business can be fined no less than $500 per employee or $5,000, and can suffer penalties up to $50,000.
Did you know…
- The first law school in the United States, Tapping Reeve Law School, was established in Litchfield in 1784.
- The first factory town in America was planned and established in Seymour.
- The safety fuse was first manufactured in Simsbury.
- While working on a customer in Waterbury, it is illegal for a beautician to hum, whistle or sing.
As you know, businesses have been operating for many years. Workers compensation insurance can protect you and your company from issues with the government and your employees, as well as costly lawsuits. Your employees are a huge part of the framework of your business, and you want to do what you can to protect them. Adding general liability insurance can provide your business with an extra layer of coverage for unexpected liability issues that can protect you, your business and your employees. The commercial lines agents at Encharter can provide you with a custom coverage program to meet your needs. You’ll be surprised at the discounts we offer- such as going paperless!
Contact Encharter Insurance today at 888.754.8299 or fill out our online form to receive your workers comp policy quote.