Providing workers compensation to employees is an obligation that is designed to protect both your business and the people you employ. If your business is new or you are reviewing your current New York workers compensation plan, there are basic elements that may be helpful in determining your needs.
- 1. Why You Need It?
Employers are mandated by the state in which they operate to provide workers compensation to their employees. Workers compensation policies apply to all businesses regardless of industry. Whether you own a restaurant, a construction company, medical practice, or any other type of business, employers are required to keep their employees safe and provide for them in the event of an injury or illness that occurs while on the job.
- 2. What does it Cover?
There are a multitude of benefits that New York workers compensation provides, which include among other things:
- Medical expenses
- Replacement of lost wages and income
- Benefits to Dependents in the event of a death
- Costs of rehabilitation services
Events that are covered by workers compensation include:
- Injuries sustained at the workplace
- Injuries that occur off of employer premises while the employee is working
- Injuries as a result of natural disasters or other accidents while the employee is working
- Illnesses or diseases obtained as a result of exposure while working
- 3. Where do you get it?
Contacting a wholesale New York workers compensation broker can assist you in solving your insurance coverage needs. Wholesale brokers have access to many carriers that specialize in workers compensation. Using them as a resource can streamline the process of finding the appropriate carrier that can evaluate your risk, and provide you with the best plan to fit your business needs.