The laws that govern workers compensation vary from state to state. In most states however, it is mandatory for companies to carry a reliable policy. This provides protection to employees who get injured or fall ill on the job. In case you have workers and you do not have the required coverage, there are some significant ramifications that could negatively impact your company. If you need workers compensation insurance Orlando is an excellent place to begin your hunt for the finest policy providers.
To begin with, failure to carry a policy could lead to criminal charges. In this case, you would be charged for failure to comply with the workers compensation insurance requirements of your state. Ideally, you can get charged even if nobody is yet to be injured. You would be found guilty of a fourth degree crime for deliberately failing to carry coverage. A conviction can attract a penalty of about $10,000 or incarceration for up to 18 months.
Apart from being accused of an offense, you could be given an order to stop working. Such instructions typically draw a $5,000 penalty or more for the first ten days that you failed to observe the law. A fine of $5,000 extra would apply for each ten days after that you still do not have a policy. The government can as well forbid you from hiring workers until you have acquired the needed policy.
It goes without saying that you could also get tangled in costly lawsuits. If one of your workers makes a claim and you are unable to provide compensation because you do not have coverage, then the employee in question could opt to sue you. Unfortunately, you would settle for the incurred lost wages and medical costs from your own wallet.
In case you get penalized, charged or sued, your business is bound to be at a great loss of profits. A court case to be precise can leave your company on its knees, possibly forcing you to end operations. Therefore, it is best for you to capitalize on a solid workers compensation policy before matters start going downhill.
Employers will in most cases want to know if fault can influence eligibility. In the majorities of cases, fault will not play a role in matters regarding employee compensation benefits. This means that an employee will still get compensated even when an accident was partly his or her fault. A worker can however not be paid if the injuries were self-inflicted or he or she was not sober at the time of an incident.
A proper policy would get all sorts of injuries covered. If an employee gets hurt while on the job, then he or she can make a claim and get compensated. Occupational diseases are also covered, though one would need to table evidence that shows that their health was impacted over the course of their employment.
In case an employee wants to file a claim, he or she can depend on the expertise of a seasoned attorney. The professional can provide guidance and ensure that critical mistakes are not made. Bear in mind that there are basic mistakes that could result in the denial of an appeal.
To begin with, failure to carry a policy could lead to criminal charges. In this case, you would be charged for failure to comply with the workers compensation insurance requirements of your state. Ideally, you can get charged even if nobody is yet to be injured. You would be found guilty of a fourth degree crime for deliberately failing to carry coverage. A conviction can attract a penalty of about $10,000 or incarceration for up to 18 months.
Apart from being accused of an offense, you could be given an order to stop working. Such instructions typically draw a $5,000 penalty or more for the first ten days that you failed to observe the law. A fine of $5,000 extra would apply for each ten days after that you still do not have a policy. The government can as well forbid you from hiring workers until you have acquired the needed policy.
It goes without saying that you could also get tangled in costly lawsuits. If one of your workers makes a claim and you are unable to provide compensation because you do not have coverage, then the employee in question could opt to sue you. Unfortunately, you would settle for the incurred lost wages and medical costs from your own wallet.
In case you get penalized, charged or sued, your business is bound to be at a great loss of profits. A court case to be precise can leave your company on its knees, possibly forcing you to end operations. Therefore, it is best for you to capitalize on a solid workers compensation policy before matters start going downhill.
Employers will in most cases want to know if fault can influence eligibility. In the majorities of cases, fault will not play a role in matters regarding employee compensation benefits. This means that an employee will still get compensated even when an accident was partly his or her fault. A worker can however not be paid if the injuries were self-inflicted or he or she was not sober at the time of an incident.
A proper policy would get all sorts of injuries covered. If an employee gets hurt while on the job, then he or she can make a claim and get compensated. Occupational diseases are also covered, though one would need to table evidence that shows that their health was impacted over the course of their employment.
In case an employee wants to file a claim, he or she can depend on the expertise of a seasoned attorney. The professional can provide guidance and ensure that critical mistakes are not made. Bear in mind that there are basic mistakes that could result in the denial of an appeal.
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Find an overview of the benefits of comparing workers compensation insurance Orlando quotes online and more info about a reputable insurance company at http://www.lrminsurance.com/project/workers-comp today.
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