Workers’ compensation laws affect all business owners in the Troy region of New York. Ignoring these laws or falling out of compliance with workers’ comp regulations can have a serious financial impact on your company.
Most business owners dread delving into the realm of compliance with workers’ comp regulations. However, it is easier than you may have once believed to acquire assistance with these critical matters. If you are interested in learning more about workers’ comp regulations for business owners in New York, consider cultivating a partnership with an experienced attorney.
In the meantime, our legal team wants to familiarize you with some of these basic regulations.
- Employers must obtain and retain continuous workers’ compensation coverage for their workers.
- Businesses that have no employees or volunteers may be exempt from providing coverage (make certain by consulting with a lawyer).
- Employers must obtain a notice detailing their workers’ comp coverage.
- Employers must post this notice in a conspicuous place for employees to see.
- The notice must include the insurance policy number as well as the contact information of the insurer.
Failure to comply with the state’s workers’ comp regulations may lead to hardships in maintaining your business. For example, something as simple as not posting the required workers’ compensation notice properly will likely result in fines reaching $250 for each violation.
Now that you know a little about New York’s workers’ comp regulations for business owners, it is time to take your next step. For most, this means finding an attorney that can help you overcome the challenges you may face in remaining compliant with these and other government regulations. Continue reviewing our website if you would like to learn more.
