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Federal Insurance Federation's Blog
Insurance Implications of Hiring a New Worker
1/12/2012 1:48:07 PM
Are you thinking about taking on the first employee in your small business in Maryland? Hiring help will probably require quite a few adjustments if you’ve been operating your business alone. Unless you are familiar with insurance matters, you may find it useful to consult our Maryland insurance agency for help in managing mandatory and optional coverage designed for employers.
Employers in Maryland who have one or more workers are required by law to carry workers compensation insurance. This coverage pays benefits including medical expenses and a portion of lost wages if your employee suffers a work-related illness or injury. It also protects you as an employer by providing immunity from the risk of being sued by your employee for workplace injury or illness. Workers compensation insurance should be in place before your new employee’s first day of work in your business.
Another type of business insurance coverage for a business that has employees is employment practices liability insurance. This coverage is not mandatory, but offers some protection for employers from legal costs and judgment costs if they are sued for violating an employee’s legal or civil rights. You may also wish to consider offering your employees group health insurance.
Our local Maryland insurance agency is staffed by experienced professionals who are knowledgeable about the state’s insurance requirements, and understand the needs of small business operations. We can help with management of your insurance needs while you focus your time and efforts on developing your growing business!
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Employers in Maryland who have one or more workers are required by law to carry workers compensation insurance. This coverage pays benefits including medical expenses and a portion of lost wages if your employee suffers a work-related illness or injury. It also protects you as an employer by providing immunity from the risk of being sued by your employee for workplace injury or illness. Workers compensation insurance should be in place before your new employee’s first day of work in your business.
Another type of business insurance coverage for a business that has employees is employment practices liability insurance. This coverage is not mandatory, but offers some protection for employers from legal costs and judgment costs if they are sued for violating an employee’s legal or civil rights. You may also wish to consider offering your employees group health insurance.
Our local Maryland insurance agency is staffed by experienced professionals who are knowledgeable about the state’s insurance requirements, and understand the needs of small business operations. We can help with management of your insurance needs while you focus your time and efforts on developing your growing business!
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