If you own a business and have five or more employees in the state of Missouri you are required to maintain workers compensation insurance. However, in the construction industry if you own a business and employ at least one person you are required to maintain workers comp insurance because it is such a high risk job. As an employer you have two options to satisfy this requirement. You may purchase a workers comp insurance policy or you can self-insure your workers compensation liabilities with permission from the Division of Workers’ Compensation. The state monitors Workers comp insurance St Louis MO as well as the entire state very closely so not adhering to the either of the two options previously stated is futile.
What is Workers Compensation Insurance?
Workers comp is a form of insurance that covers the cost of an employee’s wages and medical expenses in the event they are injured on the job. This is the vague description of workers comp insurance and policies may differ to cover more. A workers comp policy may also compensate an employee’s dependents in the event they are killed on the job or cover funeral expenses. This insurance is at no cost to employee and the employer may not charge for these services. It is the sole responsibility of the employer to maintain workers comp insurance to protect their employees. In the event that the injury is so severe that they are unable to continue their current job position or can no longer work at the company, workers comp may also compensate for the amount of time it may take for the disabled person to find adequate work. Workers comp insurance St Louis MO not only covers the initial injury, but also any other related injuries due to the initial accident. For example if a person should fracture the spine and it is forever weakened by the injury and later on down the road another injury to the spine incurs as a direct result of the previous injury, workers comp would compensate for the costs as well. A doctor must specifically be able to attribute the second injury as a result of the first.
Important Information Related to Workers Comp Insurance
In the state of MO you can go to the Division of Workers Compensation website and check their database to see if any employer has adhered to one of the two mandatory workers comp insurance options. If you are an employee and are injured on the job and your employer has not purchased workers comp insurance (which is illegal) there may be state funds to help you with compensation. Even though it is very difficult to prove discrimination it is illegal to refuse employment due to the person previously filing a workers comp claim. To help prevent this some workers comp insurance plans will reimburse your current health insurance at your request to help keep you anonymous.
If you are an employer searching for workers comp insurance in St Louis MO contact Associated Insurance Brokers. They are a family owned company that has been in business since 1980 and will work with you to create a personalized policy that meets your needs.
