Workers' Comp Related Resources
As a small business owner, you will be required to comply with certain laws when it comes to purchasing insurance policies for your business. For example, most states require that businesses provide workers' compensation to their employees. While there may be exemptions to this rule depending on a company's size or the industry that your business is in, if a business is required to have workers' compensation and fails to do so, the business can be subject to criminal prosecution, civil liability, and fines. This article will provide you with some helpful workers' compensation resources as well as some basic information about this type of business insurance.
Resources for Workers' Compensation
There are various workers' compensation resources available to the public. Many resources involve specific types of workers, such as federal workers or those that work in coal mines. Although these resources tend to be geared toward employees, they can provide helpful information for employers as well.
- American Association of State Compensation Insurance Funds (AASCIF) - This is an association of insurance companies from various states that provide workers’ compensation.
- Internal Revenue Service (IRS) Workers' Compensation Tax Status - This provides information about how workers' compensation is treated by the IRS.
- Division of Federal Employees’ Compensation (DFEC) - This division handles workers' comp coverage for federal and postal workers.
- Office of Workers’ Compensation Programs (OWCP) - The OWCP is administered by the United States Department of Labor. These programs provide major disability compensation programs that offer various benefits, such as medical treatment, replacement benefits, and vocational rehabilitation.
- National Council of Compensation Insurance (NCCI) - The NCCI provides information about workers' compensation, including industry trends and statistics.
- Division of Energy Employees Occupational Illness Compensation (DEEOIC) - This division specifically handles medical benefits and workers' compensation for Department of Energy employees, contractors, and subcontractors.
- Division of Longshore and Harbor Workers’ Compensation (DLHWC) - This division of the U.S. Department of Labor makes sure that workers' compensation benefits under the Longshore and Harbor Workers’ Compensation Act are paid properly and promptly.
- Division of Coal Mine Workers’ Compensation (DCMWC) - The DCMWC handles claims that are filed by coal miners under the Black Lung Benefits Act.
Workers' Compensation: An Overview
Workers' compensation is a type of insurance that provides benefits to employees in the event that they sustained a work-related injury. Workers' compensation laws are written and enforced at the state level and there are also special laws for people employed by the federal government. Although workers' compensation laws will vary from state to state, most states require almost every type and size of business to carry some form of workers' compensation insurance for employees.
These laws are meant to provide employees with a fixed monetary awards for injuries suffered while at work (even offsite, in many cases), without having to file a civil lawsuit. These laws also protect coworkers and employers by limiting the amount an employee can recover from his or her employer, and generally prohibit lawsuits against coworkers (in most cases). Workers' compensation is similar to other types of insurance – when there is an incident in which an employee is injured, he or she files a workers' comp claim and requests benefits.
Getting Legal Help
If your business is required to carry worker's compensation insurance, it is important to do so. The workers' compensation resources listed above should provide you with plenty of information about this type of insurance; however, if you have any questions about your business's obligations when it comes to workers' compensation, it's in your best interest to contact a business and commercial law attorney in your area.
For more information and resources related to this topic, and other aspects of starting and operating a business, you can visit FindLaw's Small Business Law section.