CSIS Insurance Services, Inc. Blog
Because of the steady rise of COVID-19 victims all over the world, workers’ comp insurance companies have been working overtime to mitigate their policies to accommodate the need for financial aid due to COVID-19.
As both an employer and an employee, one can ask how COVID-19 affects workers' compensation insurance in general. Are there changes to the existing policies already? Am I still covered? Read the next few paragraphs below to know the answers.
As an independent contractor, you will surely be able to get many benefits. From having your schedule to getting to earn the entirety of your money without percentage cuts, it is one of the best ways to do business primarily in the construction industry.
However, you have to wonder if you will be eligible to apply for any insurance policy. While you may be suitable for some, there are certain limitations to the kind of insurance policies that you can get.
Employees receive benefits from workers’ compensation insurance for injuries that happened on the job. The majority of states deem it mandatory coverage. Therefore, the law obligates several businesses that have workers as employees to buy workers’ compensation coverage.
A job-related injury or illness is something you would not like to happen. Great thing is that workers’ compensation coverage is mandatory to most employers. So it is your responsibility to make sure that your employer has you covered. As a worker, you must be properly informed to your advantage.
There are a lot of factors to be considered in determining workers’ compensation eligibility. State laws may vary but there are consistent principles that are being followed. Let's take a look at the highlights of these eligibility requirements.
Workers' compensation insurance is a policy that benefits those who suffer work-related injuries or illnesses. It is also beneficial for employers because they will not be shouldering the bills if any work-related injury occurs. Distinguishing Independent Contractors from an employee is crucial for an employer for determining who benefits workers' compensation coverage. However, the misclassification of employees is often intended by employers who want to avoid paying employment taxes. As employers, these misclassifications should be avoided because it will result in costly fines and penalties in the future.
Worker's compensation insurance is a type of coverage that protects your business and your employees if they are injured or become ill from work-related activity. But, should you really buy it, knowing that it can be a financial burden to your company? To help you out, here are the things you should know before buying workers' comp insurance.
In any workplace setting, there is always a risk for accidents and injuries. As a business owner, you should do whatever you can to mitigate these risks, like providing adequate training and accident-proofing the workplace. However, there is no way you can make it impossible for your employees to have an accident while at work.
Workers’ compensation insurance is a policy required by the government for most businesses. In the case of the construction industry, it is prescribed since the risks at the workplace is high. It will cover everything that your employees might need in case of workplace injuries such as medical bills, lost wages, and rehabilitation costs. However, getting one is not cheap, so you must assess what kind of protection you need first.
Workers comp is one of the most essential components of every tech company. As a tech company grows and matures, it needs to maintain its business. It also needs to be able to address various unique risks associated with technology. However, it's important to work with the right insurer. Here are some tips to get there.
Workers’ compensation insurance plan can significantly help you, as an employer, to safeguard your business. Having a policy in place ensures that your insurer pays the medical and recuperation bills for workers who are harmed at the workplace. Moreover, recompensing some missed earnings if an employee cannot work due to the injury can be covered. However, it depends and is set by each state in the US.
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