Do I Need Workers’ Compensation Insurance?

Any time that an employee of a company is injured while on the job, they have the right to receive financial compensation for their medical expenses. This funding, known as workers’ compensation, is a right granted to any working person and therefore could ordinarily be costly for an employing company. This is where the concept of workers’ compensation insurance became relevant and it is certainly something that you, as a business owner or human resources manager should be aware of.

In all but one US state, workers’ compensation insurance is a legal requirement for any company of more than three employees to have. Due to this fact, the answer to the question of whether your company needs this kind of insurance is most likely yes. Even if it wasn’t a requirement, workers’ compensation insurance would be a useful asset to have, as medical expenses can take their toll on a company and insurance helps to mitigate this cost. Depending on the field, even small companies must provide workers’ compensation insurance, although this is dependent on the individual state law.

If you are not a business owner or manager and are an employee that may be or has been injured while on the job, then no, you do not need exclusive workers’ compensation insurance, as this should be provided by your employer. If your employer does not have workers’ compensation insurance or is denying your claim, then you may have grounds to file a lawsuit against them in order to gain the benefits that you deserve.

We at the Franco Law Firm have helped many injured workers across the state win their right to workers’ compensation and we would be happy to do the same for you as well. To learn more about the services we offer and to schedule a free consultation with us today, please call (813) 872-0929.