New York City boasts one of the world's largest populations. And with so many citizens, the small businesses and employees of the Empire State confront greater risk than those of most other cities. One of these risks is that employees may become injured or ill on the job. Workers' compensation insurance can help in this situation. With workers' compensation, injured or ill New York employees can get benefits as support in their recovery.
The majority of New York employers are required to carry workers' compensation coverage. As a business owner, it is your responsibility to obtain coverage. Get a quotation for workers' compensation insurance online today.
If you own a business in the state of New York, you must provide workers' compensation coverage for your employees. Be advised that there are a variety of workers' compensation insurance policies available, each of which may provide distinctive coverages and programs. Insurers may give endorsements to business owners to differentiate workers' compensation coverage.
As a business owner, you can obtain coverage from:
Regardless of where small business owners in New York acquire coverage, workers' compensation benefits can help cover:
| Medical Expenses | For workers who become unwell or wounded due to their employment |
| Repetitive Stress Injuries | Like contracting carpal tunnel or tendonitis |
| Lost Wages | If an employee misses work due to a work-related injury or illness |
| Funeral Costs | If an employee dies due to a work-related accident or sickness |
| Ongoing Medical Treatment | Like physical therapy |
| Disability Benefits | If a work-related injury or disease results in a temporary or permanent disability and your employee is unable to return to work |
The rates for workers' compensation vary because every business is distinct. Insurance companies utilize numerous elements to determine your company's insurance cost. This may include:
The estimated New York employer rate for workers' compensation is $1.44 for $100 of covered payroll. Your cost depends on a variety of factors, including:
If you have been injured on the job, you are not alone. In 2020, the incidence rate of workplace injuries reported by employers in New York was approximately 2.2 cases per 100 full-time workers. The national rate is 2.7% per 100 individuals.
Examining the total number of injuries can help determine whether the annual rate of illness and injury is increasing or decreasing. The severity of these injuries may also indicate when additional supports are required to improve workplace safety throughout the state.
Based on the data on illnesses and injuries in the private industry, there were 129,000 cases in New York. 90,100 of these injuries were severe enough to necessitate a job transfer, time away from work, or other restrictions. In New York, these cases are referred to as "DART cases."
Compared to the national average of 69%, 92% of DART cases in New York result in at least one day off work.
Considering data from every industry, there were a total of 189,300 injury cases. These incidents resulted in 122,100 days missed from work and 7,700 job transfers or restrictions.
The majority of injury cases were associated with service industry employment. Other industries with high injury rates included commerce, education and health services, transportation and utilities, state and local government, and manufacturing.
There are numerous occupations that could expose you to hazards that could endanger your life or health. It is essential that your employer inform you of the safety measures you must take to protect yourself and your coworkers. Your employer should have a safe operation plan in place and provide you with training on the personal protective equipment available to you.
Below are some of the frequently asked questions regarding worker’s compensation in New York:
Insurers or claims administrators must report a work-related injury or illness to the New York State Workers' Compensation Board on or before the 18th day after the injury or illness occurred or within 10 days after the employer becomes aware of the incident, whichever period is longer.
Obtaining CMS approval is frequently a four- to eight-month process unto itself. Even when all parties agree on a settlement amount, it may be necessary to complete the MSA/CMS process. This procedure will delay the final settlement by several months.
There is a range of 225 to 525 weeks of workers' compensation benefits available. However, the number of weeks and amount of money you can receive from workers' compensation each week will vary based on your specific circumstances.
A quote is the easiest way to determine the cost of workers' compensation insurance for your business. Let us know how we can help!
