As a MA business owner, you work hard to make sure your employees are safe and protected from any dangers they may face on the job, and an important part of this is making sure you have protection for workers compensation. The majority of business owners know that workers compensation is important, but many are not aware of the fact that if your business has employees, it is most likely required by law to carry workers compensation coverage.
Workers compensation is a kind of insurance policy that provides coverage for your employees if they are injured or get sick during the time that they are employed. Coverage can be provided for:
- Death benefits
- Lost wages/income
- Rehabilitation costs
- Medical expenses
- And more…
If someone is classified as an employee of your business, it is mandated by law that they be provided with workers compensation coverage. Opting out of coverage is possible for employees, but if an employer does not offer this coverage, you can face fines up to $2,500 a day and can be charged with a Class D felony that carries a mandatory minimum one year prison sentence. It is also illegal to terminate an employee who suffers an injury while working and/or who files a workers compensation claim. Per regulations, a company is mandated to purchase workers compensation insurance to cover permanent disability, medical costs, and some amount of injured employee’s wages, if the company has five or more employees.
Carrying workers compensation coverage keeps you as a MA business owner, and your company protected from costly lawsuits and complicated issues with employees. Workers Compensation Insurance is beneficial for both your company AND the people you employ, who usually are a huge and highly valuable part of the infrastructure of a company. Sampson Insurance can provide you with the right coverage program that is specially designed to meet the particular needs of your business.
Get started on protecting your business today with a free workers compensation insurance quote. We know you’ll be happy to see how much your company can save by placing your policy with Sampson Insurance; give us a call today!