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.
It remains imperative to understand that you can face criminal litigation for failure to carry a policy. This means that you would be charged for not complying with the workers compensation insurance laws within your state. Normally, you can still be found guilty of a fourth degree crime, even if a worker has not been injured. If you are convicted, you risk paying a penalty of about $10,000 and spending at least 18 months in jail.
Additionally, a stop-work order can be made. The order will in itself attract a $5,000 penalty for the first ten days of not complying with the law. An additional $5,000 will be charged for every other set of ten days thereafter, where you have still not obtained the required coverage. The authorities could even decide to stop you from employing anyone until you acquire a proper workers compensation 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.
Your company will be exposed to suffering from great losses simply because you do not have a policy. Your profits will be slashed considerably, irrespective of whether you are penalized, sued or charged for committing a crime. Getting sued in particular can easily leave you at a loss of thousands of dollars.
Most employers ask whether liability can influence their eligibility. In some events, a worker will still get compensated even if he or she contributed towards the turn of events that caused an incident. In matters of employee compensation benefits, mistakes cannot always influence eligibility. A worker will even so not be compensated if he or she knowingly imposed an injury or was not sober when an accident occurred.
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.
It pays to work with an experienced lawyer when filing a claim. The expert will ensure that you do not make mistakes that can cripple your chances of getting compensated. The professional will also play the role of helping you to figure out the value of your injuries.
It remains imperative to understand that you can face criminal litigation for failure to carry a policy. This means that you would be charged for not complying with the workers compensation insurance laws within your state. Normally, you can still be found guilty of a fourth degree crime, even if a worker has not been injured. If you are convicted, you risk paying a penalty of about $10,000 and spending at least 18 months in jail.
Additionally, a stop-work order can be made. The order will in itself attract a $5,000 penalty for the first ten days of not complying with the law. An additional $5,000 will be charged for every other set of ten days thereafter, where you have still not obtained the required coverage. The authorities could even decide to stop you from employing anyone until you acquire a proper workers compensation 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.
Your company will be exposed to suffering from great losses simply because you do not have a policy. Your profits will be slashed considerably, irrespective of whether you are penalized, sued or charged for committing a crime. Getting sued in particular can easily leave you at a loss of thousands of dollars.
Most employers ask whether liability can influence their eligibility. In some events, a worker will still get compensated even if he or she contributed towards the turn of events that caused an incident. In matters of employee compensation benefits, mistakes cannot always influence eligibility. A worker will even so not be compensated if he or she knowingly imposed an injury or was not sober when an accident occurred.
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.
It pays to work with an experienced lawyer when filing a claim. The expert will ensure that you do not make mistakes that can cripple your chances of getting compensated. The professional will also play the role of helping you to figure out the value of your injuries.
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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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