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New York requires that every employer with part-time or full-time employees carry workers’ compensation coverage. Also known as “workers’ comp,” this insurance pays the wages and medical bills of employees who are injured or become ill while on the job.

Specifically, it covers:

  • All medical bills that occur as a result of the injury or illness
  • Temporary disability payments for wages while an employee is out of work
  • Permanent disability payments to compensate for any permanent effects of an injury
  • Death benefits to an employee’s survivors if the worst happens and your employee dies from an on-the-job accident or illness
  • Legal representation by the insurance provider

If you don’t have workers’ comp insurance and an employee falls ill, is injured, or is killed at work, you will have to pay the full cost of wages lost and medical bills. If you are sued by the employee and the court finds in their favor, you can also be responsible for penalties in the tens of thousands of dollars, depending on how long you went without coverage.

If you’re doing business anywhere in New York, call Rey Insurance today to meet your legal requirements for workers’ comp coverage.