DO I HAVE TO BUY WORKERS COMPENSATION INSURANCE?
Insurance coverage purchased by the employer that provides benefits for job-related employee injuries is known as Workers' Compensation. Florida law requires all employers to purchase workers' compensation, with a few exceptions. Employees are compensated for occupationally incurred injuries, regardless of whose fault it is. Workers' compensation insurance provides the employer protection from some injury lawsuits by employees.
The definition of 'employees' means any person who receives payment from an employer for the performance of any work or service while engaged in any employment under any appointment or contract for hire or apprenticeship, express or implied, oral or written, whether lawfully or unlawfully employed, and includes, but is not limited to, aliens and minors. - Source: Florida Office of Insurance Regulation
If an employee protected by the state statute is injured or killed in the course of working for you, you may be legally liable, whether insurance is required and regardless of how few employees you have.
In Florida, the Division of Workers' Compensation within the Department of Financial Services is the primary regulator for ensuring employees receive the proper benefits under this coverage, which includes benefits for medical expenses, disability, or death. The Office of Insurance Regulation primarily regulates the rates, forms and solvency for this type of coverage. The amount of compensation is established by law. - Source: Florida Office of Insurance Regulation
Some Workers Compensation coverage can include:
- Innovative payment systems
- Medical disability case managers
- Utilization management nurses
- Certified life care planning nurses
- Vocational rehabilitation consultants
- Physician consulting services
- Legal staff
- Contracts with medical network providers
- Managed prescription drug program
Al DeLeon & Associates can help your business find complete solutions to your workers' compensation insurance needs. Coverage for office workers using their own vehicles on company business is often needed as well. If you have employees, it is crucial that you consider this workers compensation coverage.