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Louisville Workers Compensation Insurance
Louisville Workers Comp Information About Louisville workers compensation insurance:
Workers’ Compensation is mandatory, employer-financed, no-fault insurance which ensures that employees disabled due to a work-related injury or disease will be compensated for lost wages and provides necessary medical treatment to return them to the workforce. Lexington and Louisville have some the largest employee populations. Louisville workers comp coverage requirements:
Failure to Carry Work Comp Insurance What happens if I don't buy Louisville workers comp insurance?
Non-compliant Louisville employers are subject to a fine of $100 to $1,000 per employee. Each employee and each day of violation shall constitute a separate offense. Additionally, an employer may be held liable to an injured employee (or employee of an uninsured contractor or subcontractor) for income benefits including lost wages and medical expenses.
Frequently Asked Questions About Louisville Workers Compensation Insurance
Does my Louisville business need workers comp?
Employers with one or more workers are required to maintain Louisville workers compensation insurance. There are no exceptions for family member employees, temporary, or part time employees.
How much does Louisville workers compensation cost?
Employers are assigned a classification for what type of work they do. The basic premium is based on its class code, the carrier’s KY workers compensation rates for the classification and annual payroll.
Who pays for workers compensation?
Kentucky specifically prohibits the employer from deducting workers compensation insurance KY premium from wages or salary of any employee entitled to benefits.
What does Louisville workers compensation cover?
Coverage ensures medical and wage-loss benefits to employees who are injured during the course of their job. Employers who so provide coverage are protected against lawsuits filed by injured workers.
What happens if I do not have workers’ comp insurance?
An employer may be held liable to an injured employee (or employee of an uninsured contractor or subcontractor) for income benefits including lost wages and medical expenses.
Who determines if my business is not compliant?
The Compliance Branch plays an important role in the Kentucky Department of Workers’ Claims. The goal of the branch is to ensure that employers subject to the Workers’ Compensation Act comply with statutory requirements. The branch also encourages timely compliance through educational initiatives.