Workers Compensation Insurance
Did you know that Maryland was the first state in the country to institute a workers compensation law in 1902?
The Maryland workers compensation act was updated in 1914, and the state is actually still using the same general framework that was enacted in 1914. Back in 1914, purchasing workers compensation insurance was optional. Today, state law requires all employers to purchase Maryland workers compensation coverage.
No matter what type of business you run, you have a legal obligation to keep your staff safe while at work. This responsibility can be fulfilled with workers compensation insurance. Maryland workers compensation coverage pays for medical care and physical rehabilitation for injured employees while also helping to replace lost wages. It can also provide benefits for the dependents of employees who lose their life due to work-related accidents or illnesses.
Regardless of whether or not your business has a commercial insurance package, workers compensation in Maryland must be purchased as a separate policy. A workers comp plan can provide your company and its employees with the following:
- Medical expenses
- Lost income/wages
- Rehabilitation costs
- Death benefits
- And more…
If you own a business in Maryland, workers compensation insurance coverage can save you and your organization from major employee issues as well as financially damaging lawsuits. CNR First Insurance Services can help you look out for your company’s best interest.
For more information about workers compensation, business owners should contact CNR First Insurance Services right away.