Workers compensation insurance pays for expenses related to injuries employees suffer that are caused by on-the-job accidents. Workers compensation insurance can also provide coverage if an employee develops an illness caused by exposure to conditions in the workplace or at a work site. This insurance will cover costs associated with medical care to treat the injury or illness, costs for rehabilitation, and lost wages if the employee is unable to work because of the injury or illness.
Are All Connecticut Businesses Required to Have Workers Compensation Insurance?
Workers compensation laws vary from state to state. All Connecticut businesses with employees, or uninsured subcontractors, are required to carry workers compensation insurance to protect their employees. Businesses that fail to carry workers compensation insurance will be responsible for costs associated with work-related injuries or illnesses that employees experience. Business owners who are required by law to have insurance but do not comply can also face fines and other penalties for failing to follow the law.
Sole proprietors and members of single member LLCs are automatically excluded from workers comp. policies, but may opt-in. Corporate officers and members of multi-member LLCs are automatically included but may opt-out.
If your company is required by Connecticut law to obtain workers compensation insurance, it is essential that you do so. Not having workers compensation insurance can expose your company to potentially devastating financial repercussions if an employee experiences a serious work-related injury or illness. Not complying with Connecticut law can also make your company subject to financial penalties.
Connecticut law requires employers to purchase workers compensation insurance coverage from a private insurance company. Petruzelo Insurance offers workers compensation coverage for Connecticut businesses of all sizes. We can help you compare rates from leading insurance companies and choose the coverage that is best for your business. Contact Petruzelo today to compare quotes for workers compensation insurance to protect your employees and your business.