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Workers Compensation Insurance

workers' compensation insurance in Prescott from Mosaic InsuranceMosaic Insurance would like to remind you of something for your business that is often overlooked, workers' compensation insurance.

Since January 1974, Arizona law has required all public and private employers with at least one employee to carry workers' compensation insurance. It is not required for an independent contractor, or a worker whose employment is both casual and not in the usual business of the employer. The law makes coverage optional for domestic servants.

If you have an employee, could they be at risk for an injury at work or for a work related illness? Arizona workers’ compensation is a “no fault” system in which an injured employee is entitled to receive medical benefits and temporary compensation for an industrial injury, no matter who caused the job-related accident. There are some exceptions, however. For example, an employee is not entitled to workers’ compensation benefits for injuries that are “purposely self inflicted.”

Coverage for office workers using their own vehicles on company business is often needed as well.

Although a sole proprietor having no employees is not required to maintain workers’ compensation insurance, they may elect to secure coverage for themselves. Corporations and LLC’s with one or more employees must obtain the insurance.

Be sure to ask about what may be included in your workers’ compensation insurance, here are a few examples:

  • Innovative payment systems
  • Medical disability case managers
  • Utilization management nurses
  • Certified life care planning nurses
  • Vocational rehabilitation consultants
  • Physician consulting services
  • Legal staff
  • Contracts with medical network providers
  • Managed prescription drug program

There are consequences if you fail to obtain workers’ compensation insurance. It is a Class 6 felony, and the first penalty is $1,000 for failure to obtain workers’ compensation insurance, whether or not an employee files a claim. The penalty is increased to $5,000 for a second offense and $10,000 for a third instance in a five-year period.

Workers’ compensation claims are causing rising costs for insurers, leading to slight rate increases for business owners. Mosaic Insurance is here to protect you and your business in the event of a claim, making sure that you are fully protected where it counts. To learn more, call us today at 928-458-7374.

Need a commercial insurance quote? Get it today!

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