Workers Compensation

Workers Compensation (aka “Workers Comp”) is a form of insurance that provides medical care compensation for employees who are injured in the course of employment, in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.

In Florida there are significant penalties for employers who are required to carry Workers Comp benefits for employees, but fail to do so including second-degree misdemeanor, prevention from employing persons or conducting business until compliance is accomlished, or a fine of $1,000 per employee plus $100 for each day of noncompliance.

Since, the cost of Workers Comp depends largely on the amount of payroll a company has, it is often beneficial & more affordable to get Workers Comp coverage from a carrier that is linked to a company that provides payroll services, though businesses with a few employees may not desire that option.