According to California Labor Code Section 3700, all employers in California must provide workers’ compensation benefits to their employees. Even if a business employs one employee, it must satisfy the requirement of the law. When an employee suffers a job-related injury, then workers’ compensation insurance helps cover their salary and medical expenses. By purchasing workers’ compensation insurance, you can protect your company from lawsuits that may arise from workplace accidents.
Sometimes a business is a sole proprietorship, and the owner can acquire workers’ compensation insurance to cover himself or herself. This fact needs to be clearly stated in the policy. But purchasing workers’ compensation insurance is not the ideal choice if the company has only a sole proprietor.
The proprietor may instead opt to purchase health insurance, life insurance or disability income insurance.
All the officers and directors of a company must be included in workers’ compensation coverage.
If you want to be sure about type of employees who are eligible to be covered under the workers’ compensation insurance refer to California Labor Code Section 3351.Whether you have a sole proprietorship, a partnership or a corporation, it is beneficial to develop a relationship with a reliable, competent broker-agent. A reputable agent will help you understand all the relevant details regarding workers’ compensation insurance and various options available.
California’s booming construction industry shows no sign of slowing down. It employs more than a million workers who routinely spend their days scaling new heights and handling hazardous jobs.
But it is not just construction companies that need to safeguard themselves. Many other industries employ people to carry out more ‘high-risk’ jobs. Some jobs have a higher level of risk associated depending on the work involved. Regardless, according to California Laws, each company must have Workers’ Compensation Insurance.
A reliable insurance agent can partner with a business and help in purchasing workers’ compensation insurance from a licensed insurance company and can assist with information on various aspects of the insurance. For three decades, Golden Benchmark has served companies in the San Francisco area as a reliable agency for workers’ compensation insurance.
If an individual is injured due to an accident at their workplace while fulfilling their duties, they have the right to receive a compensation amount. This amount is decided based on the extent of the injury and subsequent medical expenses.
Hence in unfortunate events that might occur at workplaces, Workers’ compensation insurance or workmen’s compensation insurance provides coverage for unforeseen accidents or injury occurring to workers, thus safeguarding the interests of both the employers and employees.
The workers’ compensation insurance ensures that injured employees can receive adequate and necessary treatment. At the same time, it is designed to help companies in high-risk industries meet financial expenses at unfortunate times.
Anyone who manages or owns a business, irrespective of the size or purpose of the company must purchase the workmen compensation insurance. It is impossible to foresee accidents and even the most trivial of workplace injuries could incur a cost that could be damaging financially to the company.
Company owners or managers can seek advice on the most appropriate form of workers compensation insurance for their business. The company stakeholders could have a detailed discussion with their chosen insurance agent to determine the risk factors associated in their industry. For instance, some industries are labour oriented, while some only involve desk jobs. Please note this while purchasing a workers’ compensation insurance that the number of administrative or manual staff will affect the premiums of the insurance proposed.
If you need a proper professional assessment of your risks and options, then get in touch with the expert team at Golden Benchmark, California.
In summary, all companies are legally obligated to take reasonable care to assure that their employees are safe. But of course, no one can prevent accidents. When these unfortunate accidents happen, workers’ compensation insurance provides coverage.
Workers’ compensation insurance helps in two ways:
The best part to be noted here is that workers receive the benefits regardless of who was at fault in the accident. In case of death while executing duties, workers compensation insurance provides death benefits for the Worker’s dependents.