If your New Jersey business has employees, the odds are good that you’re required to provide workers’ compensation insurance for those who work for you. Failing to do so could result in stiff penalties from the state and places your business at great risk for legal action if employees are injured on the job.
Johl & Company can help you to determine whether or not your business meets the legal requirement for providing workers’ compensation coverage to employees and find the right plan, for the right cost, to cover those needs.
Of course, we’re not just here to sell you your policy. We’ll be here to help when claims are filed as well. We know how important it is to stand by you to ensure a fair outcome during the claims process.
What is Workers’ Compensation Insurance?
This type of insurance is one employers purchase on behalf of their employees. It provides protection for employees who are injured, become ill, or are killed on the job. It is required by law in every U.S. state though the regulations vary from one state to the next.
Workmans comp insurance provides coverage regardless of who is at fault, though there may be exclusions for coverage according to the policy that’s purchased. In addition to covering illnesses and injuries from one event, workers’ compensation may also cover injuries from long-term events, such as repetitive motion injuries, hearing loss, and other such injuries.
How Does Workers’ Compensation Insurance Protect Businesses?
Most people understand that workers’ compensation coverage is a necessary part of doing business. Few business owners fully understand the benefits this type of coverage has to offer them.
One of the biggest benefits this type of insurance offers employers is that employees exchange their right to sue their employers for negligence if they are injured in the course of doing their jobs. Lawsuits, such as this are not only costly, but time consuming and they can greatly reduce morale among other workers. Altogether, negligence lawsuits cost businesses in many ways.
Another benefit workers’ compensation provides employers is the improvement in morale employees experience as a result of knowing they are covered for medical expenses and some income while recovering from injuries and accidents while carrying out their duties at work.
Workers’ compensation insurance does not absolve the employer of responsibility for the safety of employees. In fact, employers may still be sued if reckless actions of the employer or intentional action are the cause of the accident or injury.
How Can Johl & Company Help with Your Workers’ Compensation Needs?
Johl & Company understands the many benefits businesses stand to gain by purchasing workers’ compensation coverage for their employees — from the boost in morale to the legal protection it represents. We can help you identify areas of risk for your business and changes you can make that will ultimately lower the cost of workers’ compensation insurance. We can also conduct an audit of your coverage to make sure you’re not paying for more coverage than you need for your business.
Our goal is to provide you with cost-effective risk management solution for your business and our services have worked well for many other satisfied customers. Read their reviews of what we do so you can make an informed decision about doing business with Johl & Company.