Why Workers’ Compensation Insurance Matters for Employers
The Catawba River Insurance Group • November 15, 2024
Workers are the foundation of any business. They are essential to its daily operations, its culture, and its success. Their health is extremely important, and if they become unable to do their job because of a work-related illness or injury, it’s your responsibility as their employer to pay for workers’ compensation benefits.
There are several reasons why workers’ compensation insurance is important for employers :
- It’s the law. The North Carolina Workers’ Compensation Act legislates that business owners employing three or more employees need to provide workers’ compensation insurance. Corporations, sole proprietorships, limited liability companies, and partnerships are subject to this law. Not abiding by this law could mean facing financial penalties, being charged with a misdemeanor or felony, or even being imprisoned.
- It protects your business from financial loss. Paying for a worker’s medical expenses or any damages could take a significant financial toll on your company. Having workers’ compensation insurance can ensure your company doesn’t suffer a major financial loss.
- It helps your employees recover. Workers’ compensation insurance helps ensure that your employees receive the medical care and other compensation they need to recover from their injury or illness. Their recovery in and of itself is important. As an employer, you care about your workers’ well-being. Once they recover, they can also work again, which is good news for your company.
If you need assistance with workers’ compensation insurance , our agents at The Catawba River Insurance Group can help you find the right plan. Contact us today to get started.
The post Why Workers’ Compensation Insurance Matters for Employers first appeared on The Catawba River Insurance Group.
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