New York SBDC Research Network

By Catherine Metcalf When you run a business, it’s important to control expenses so that you can remain profitable. However, unexpected costs can arise that throw off the balance. Employee injuries can be one of the most disruptive things that happen to a company. According to one work injury lawyer in Philadelphia, “When an employee suffers an injury at work, the employer’s workers compensation coverage will pay benefits to the injured employee.” However, the initial payout is only the beginning of financial effects that can be felt from this type of injury. Having an effective safety management system in place can help you to maintain your bottom line and keep you in business. Increased Premiums In many states, workers compensation insurance is mandatory for businesses with more than one employee. This insurance covers employees for rehabilitation, costly medical expenses, and wages lost as a result of a work-related incident. However, companies pay premiums based on th...

Go here to get information provided by the New York State Workers' Compensation Board to give businesses quick and direct access to workers' compensation information. It is not intended to serve as an endorsement of the State Insurance Fund or any other insurance carrier. This includes: The Players in the System Who Is and Is Not Covered by the Law Who Is An Employee? Who Is an Independent Contractor? Business Permits - Licenses - Contracts Out-of-State Employers Working in NYS Employers' Rights and Responsibilities Complying with the Law Obtaining Insurance Penalties for Not Having Insurance Understanding Insurance When an Accident Happens Return to Work Construction Employment Payroll Limitation Workplace Safety State Insurance Fund Information