Workers compensation for Small Business
Is workers' compensation insurance required for your small business? Yes, for nearly all firms in the United States. Workers' compensation for small businesses is almost always required. While state rules differ, small firms should have a workers' compensation policy in place as soon as they recruit their first employee. This policy provides crucial protection against medical bills and employee claims connected to job injuries, even though it is not required by law. If you or an employee needs medical care or time off due to a workplace injury – or if an injured employee sues you for failing to avoid an accident - you can rely on workers' compensation. If you don't have workers' compensation insurance, your company will be liable for any medical costs and legal fees. In addition, most states impose severe penalties for noncompliance. Workers' compensation is critical for small firms for three reasons: Workers' compensation insurance is required in most