California: What is the Law on Workers' Compensation Insurance?
1/20/2012 7:10:00 AM
The law is very clear on workers compensation insurance, California. All firms with at least one employee must have such insurance in place. The law will impose a stop on companies that do not adhere to this regulation, and severe penalties (including jail) may be incurred if insurance is not purchased following this.
However your premium may vary according to a number of factors and it may be advisable to obtain the advice of an insurance agent regarding this type of coverage. The list below may give you an idea of some of the factors that can influence the cost of your coverage.
Do you have a poor history of workplace accidents?
This may well affect the premium you end up paying for the insurance. However if you can demonstrate that you have learned the lessons of those accidents, and have put in place effective preventative measures, this may bring the premium down in the future.
What is the type of industry?
Does your business operate in a high risk environment? This may affect insurance premiums. The size of your workforce and the types of tasks they do are all considered.
Do you need to speak to someone about obtaining workers compensation insurance? California business owners are welcome to contact us to arrange coverage.
*
However your premium may vary according to a number of factors and it may be advisable to obtain the advice of an insurance agent regarding this type of coverage. The list below may give you an idea of some of the factors that can influence the cost of your coverage.
Do you have a poor history of workplace accidents?
This may well affect the premium you end up paying for the insurance. However if you can demonstrate that you have learned the lessons of those accidents, and have put in place effective preventative measures, this may bring the premium down in the future.
What is the type of industry?
Does your business operate in a high risk environment? This may affect insurance premiums. The size of your workforce and the types of tasks they do are all considered.
Do you need to speak to someone about obtaining workers compensation insurance? California business owners are welcome to contact us to arrange coverage.
*
