Workers Compensation Information
New York’s economy is one of the largest in the United States, and it wouldn’t be able to thrive without the input of millions of contributors.
Still, everyone knows that no job is without its occupational liabilities, and at times any employee could get hurt just when they’re trying to do their job. As a result, they might face significant personal losses that might threaten them with financial insecurity. It’s at this point that their employer should be able to step in to provide workers’ compensation benefits.
Workers compensation insurance is not something that any business should be without if they want a strong risk management strategy. Let E.A. Funk & Associates help you find the policy that will be customized for your company’s unique needs.
Call us today at (631) 467-4747 or request your free policy quote online
to learn more!
Common Workers Compensation Insurance Questions
When someone sustains an occupational injury, they could face significant personal challenges, such as:
• Medical bills caused by emergency treatment and ongoing care
• Temporary or permanent disabilities that require rehabilitation and maintenance
• Lost income resulting from their inability to continue to work
All these challenges could create a lot of financial insecurity for the victim. Because the injury occurred on the employer’s time, then it is the employer’s workers compensation insurance that can provide the necessary financial assistance.
Workers compensation insurance has two primary objectives:
• Having a policy frees the employer from liability for employee accidents in most cases. By agreeing to take workers compensation benefits, the employee waives the right to sue the employer over their injury, except in certain circumstances.
• The employee will be able to use their workers compensation benefits as supplementary income throughout their recovery period. Benefits will help replace the money lost from their inability to work in their normal capacity.
All employers in New York State must carry workers compensation insurance, with limited exceptions. Both full-time and part-time employees qualify for coverage.
Policies are provided by private insurers and the New York State Insurance Fund. While self-insurance is allowed in some cases, most employers must file proof of workers compensation insurance upon filing for various business licenses.
There are numerous injuries that might qualify an employee for workers compensation, including:
• Slip-and-fall injuries
• Injuries sustained in vehicle accidents
• Machinery injuries
• Repetitive motion injuries
• Toxic exposure injuries
• Chronic illnesses sustained from the working environment
• Hearing loss
Depending on the employee’s qualifications for coverage, workers compensation might provide:
• Income assistance
• Medical benefits
• Vocational rehabilitation
• Death benefits (provided to survivors if the employee dies in a workplace accident)
The employee must receive verification of their injury from a physician (of their choice) and file the appropriate documentation with their workers compensation claim. At this time, the insurer will follow New York’s workers compensation guidelines to determine both the value of benefits and the length of time for which the recipient will qualify for assistance.