Rhode Island Workers’ Compensation is mandatory for most employers in the state with at least one employee. This insurance policy can help ensure that workers have financial protection, in case they encounter an accident in the workplace.
PolicySweet® is an insurance provider of Rhode Island Workers’ Compensation coverage, which your company might need to remain legally compliant. Help reduce your liability and protect your workers with a policy that could meet your unique needs. Get a quote today!
What Does Rhode Island Workers’ Compensation Cover?
Employers seek RI Workers’ Compensation to help protect their company and employees from the expenses associated with work-related injuries or illnesses. Regardless of the severity of these events, you may need to financially recover from damages. Some of these include:
Medical Expenses
Employees who get hurt while on duty, or develop an illness due to the nature of their job, might need medical care. Hospital bills, prescription medicines, ongoing medical care, and even physical therapy are some expenses that injured employees can face. You may want to consider getting a policy, so you can cover these treatment costs to help your employees get back in shape.
Lost Income and Wages
Companies may incur financial losses while an employee recovers from the illness or injury they sustain while on duty. Likewise, workers can lose their primary source of income if their injury prevents them from returning to work. Rhode Island Workers’ Compensation benefits can help maintain your operations while your injured workers heal.
The benefits can depend on your organization’s circumstances and the terms of your insurance policy. Consider speaking to our Rhode Island Workers’ Compensation specialists to help assess your situation and determine your options.
Who Needs Workers’ Compensation in RI?
Most individuals, firms, and private corporations with employees are subject to the Rhode Island Workers’ Compensation laws.
As a responsible employer, you should comply with these laws to help avoid penalties. Criminal penalties may also be in order if your organization fails to help protect its employees from potential workplace harm.
Exceptions to Rhode Island Workers’ Compensation Benefits
Although most employers with at least one employee should carry Workers’ Compensation in RI, some exceptions exist. In particular, RI Workers’ Compensation may not cover the following entities and individuals:
- Sole proprietors
- Partners
- Certain real estate employees
- Some agricultural workers
- Specific domestic service employees
- Independent contractors
Note that some professionals and state employees have separate programs that can offer benefits that are similar to RI Workers’ Compensation. Their separate compensation programs can help ensure that their policies meet the specific risks of their industry.
What Are Your Responsibilities as an Employer With Rhode Island Workers’ Compensation?
You may want to consider your responsibilities as an employer in RI. These can include the following.
Proper Disclosure
You should disclose to employees whether you are subject to or exempt from RI Workers’ Compensation. If you already have Workers’ Compensation, you should display a poster in a conspicuous area in your workplace to announce your compliance. Otherwise, you might have to disclose and specify which exemption to the Workers’ Compensation law your company has.
Immediate Filing
You should file for RI Workers’ Compensation benefits as soon as your employee reports an injury or illness that they determine is work-related. Reporting injuries or illnesses can require communication with the Rhode Island Department of Labor and Training and your insurance provider, which may take some time before accommodating your needs. As such, immediate action can be critical.
How Much Does Rhode Island Workers’ Compensation Cost?
RI Workers’ Compensation rates can depend on a few factors.
- Industry: Businesses in high-risk industries that involve heavy equipment or dangerous locations may increase your rate to help ensure that your policy covers several possibilities.
- Workers: The number of employees you have, can determine how much your policy could cost. As such, your rate may adjust to accommodate the number of employees at your business.
- Claims history: Your organization’s past Workers’ Compensation claims may factor into the cost of a policy.
PolicySweet: Get Rhode Island Workers’ Compensation Insurance
Companies in Rhode Island should consider obtaining a Workers’ Compensation policy to help protect themselves and its employees financially. Workplace accidents may occur randomly, which can make it critical to help protect yourself from potential losses.
Customizing your Rhode Island Workers’ Compensation insurance policy can be especially important, since different companies face various risk factors. We can help ensure that you remain financially protected from relevant expenses.
At PolicySweet, we are eager to help assess your needs and determine an ideal policy that can meet your expectations. Whether you have a small team or a large organization, our experts can tell you what kind of coverage you might need. Discuss your options with us today!
Please Note: State-specific information is subject to change at any time. Always consult with your state’s official information and resources for the most accurate information.