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How to get workers' compensation policy in New York?

What is the Workers' Compensation?


This insurance provides a compensation, if an employee gets injured during the working hours or become sick as a direct result of their job. It is obtained either from a Government or private insurance agency. An employee can be hired without having a workers' compensation and up to two owners of a company can be exempted. The workers' compensation certificate is posted at the work location with the most detailed of benefits, that a worker or the agency can easily view it.


The workers' compensation is a state agency and each state has different rules and regulations to acquire and claim the insurance.


Who pays workers' compensation?


A business owner is obligated to buy it prior to hiring an employee to cover the accidents, the workers' compensation impose significant penalties on those business owners who do not cover their employees by the insurance. An employee does not contribute to the cost.


Who maintains workers' compensation for a 1099 employee?


A subcontractor or an outsource employee is required to carry his/her own insurance rather than providing by a business owner.


How can an employee claim the workers' compensation benefits?


An employee is eligible for the benefits when an employer and the insurance career agree that the accident or illness is a direct-job related incidence. If both parties are not agreed on a specific claim, then the workers' compensation law judge decides.


What is the cost to buy a workers' compensation?


There is no standard of a fixed cost to get a workers' compensation insurance. The cost depends on the number of employees and the job description. The workers' compensation board send an auditor every year to check the books and records of a business to make the adjustments in insurance policy cost. The insurance cost can either be increased or decrease based on the auditor's report and new findings.