Workers’ compensation is a “no fault” insurance program that provides medical treatment, wage replacement, and permanent disability compensation to your employees who suffer job-related injuries or illnesses. It also provides death benefits to dependents of workers who have died as a result of their employment.
Who must obtain this coverage?
Corporations, Partnerships/LLCs, and Sole Proprietorships
Consequences for Failure to Insure
The law provides that failing to provide workers compensation for your employees is a disorderly persons offense with penalties for such failure assessed up to $5,000 for the first ten days and up to $5,000 for each additional ten-day period thereafter.
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