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Workers compensation insurance provides benefits for employees if an on-the-job accident occurs or an employee becomes ill during the performance of job-related duties due to workplace exposure or circumstances.

Benefits to which employees are entitled include medical costs, death benefits, loss of pay and job training in the event that a workplace incident makes the employee unable to continue in his or her current job.

Unless your company happens to be a sole proprietorship or a partnership, the answer is yes, your employees will need to be covered. However, what type of workers compensation your company needs is based more on geography than any other factor

Why? Because the type of workers compensation required for businesses is regulated by state laws, not federal laws. Furthermore, many states have different requirements about what type of workers compensation a company is required to have.

Most states have laws allowing companies to purchase their workers compensation insurance directly from an insurance company. However, North Dakota, Ohio, Washington, West Virginia and Wyoming all require companies to purchase insurance through state-operated funds.

Several other states allow companies to choose whether they wish to purchase their insurance from state funds or private insurance companies. These include Arizona, California, Colorado, Idaho, Maryland, Michigan, Minnesota, Montana, New York, Oklahoma, Oregon, Pennsylvania and Utah.

To further complicate matters, two states — Texas and New Jersey — do not require employers to purchase workers compensation at all. However, even in these two states, an employer is still considered liable if an employee is injured on the job, so workers compensation insurance is something employers should at least consider. Those employers who lack coverage will still be required to pay these expenses, in addition to possible fines for not having it in the first place.

A final note to keep in mind is that those individuals hired as contractors and subcontractors by a company also have to be covered in the event of a workplace injury.

So, how does an employer go about finding the right workers compensation insurance for employees? The best bet is to contact your independent insurance agent, who can tell you exactly what insurance your state requires businesses to have.

Contact us for more information on the best coverage to protect your company and your employees.

Protect your employees. Call Guardian Insurance at 855-464-8273 for more information on Atlanta workers comp insurance.
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