Because state laws regulate workers’ comp, you’ll need to research the laws in your state to find the requirements for your business or consult with a licensed Insureon agent.
Business owners who don’t purchase workers’ comp insurance when it’s required could face penalties ranging from fines to jail time.
Some states have workers’ compensation state funds that provide insurance for employee injuries and illnesses and protections for business owners.
Most states require businesses with employees to purchase workers’ compensation insurance. Sometimes other policies are required, as well.
Workers’ comp class codes are numbers that insurers use to classify companies and employees by exposure to risks.
A tortfeasor is someone who commits a wrongful act, causing another party to suffer a personal or financial loss.
A tort is a wrongful act that harms a third party, either an individual or a business.
Standard of care refers to a professional's duty to act reasonably and provide quality services. If you fall short of the standard of care, a client usually has the right to sue.