Small businesses are especially vulnerable to a lot of changes within the law simply due to a lack of information. They are either busy staying afloat or building their firm. They lack the resources and time to dissect the law in every way. For better or worse, that is no excuse to break the law. Every small business owner owes it to themselves to have a workers compensation lawyer in Upper Marlboro MD review their business. It can be reviewed and discussed in areas aside from worker’s compensation, but that is one field that trips a lot of business owners. What are some of the biggest questions in worker’s comp in Maryland?
How many employees does a business need to have?
All employers with at least one part-time or full-time employee must have worker’s compensation. What constitutes a full or part-time employee varies. It usually includes someone making a certain amount yearly and contracting for at least 20 hours a week. A workers compensation lawyer in Upper Marlboro MD can provide fantastic insight in this area.
What is needed for coverage?
Businesses need to provide all basic information about their company. Some other information includes Social Security numbers of owners, prior loss history, total payroll, the number of employees; and prior coverage. Business owners should also have personal employer liability, which is attached to worker’s comp. It protects them personally if the case is not directed at the insurance company, but at the employer.
How is a quote determined?
There is an algorithm involved with most insurance companies. The information provided above will be added to the system, and the insurance company will offer a quote that is consistent with their own systems and finances.
Contact Law Office Of Danny R. Seidman for more on applying worker’s compensation. There is a tendency to get greedy in law, especially when it involves money. Employees will have no problem suing if they smell any kind of vulnerably in the worker’s compensation. All small businesses should make sure they are covered properly. There should be no doubt that the compensation plan is accurate and practical to the law. Anything less could destroy a business.