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workers comp Archives - Horan Companies | New York Insurance Agency, Baldwinsville, NY

Example of a an employee getting injured and needing workers comp

What does workers comp insurance do?

By Business Insurance

Question 100 in 100 Insurance Questions in 100 Days Video Series! Workers’ Compensation is typically the largest part of a business’s insurance expense. It applies to workers who are injured or become ill due to their job function or environment. It also compensates for lost wages. The wages are replaced up to a certain percentage amount. There is a seven-day waiting period in order to do that. It is not the same as short-term disability. Short-term disability covers for injuries and sicknesses that occur away from one’s employer. Workers’ Compensation also covers unlimited amounts of medical expenses that happen and…

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What are loss runs?

By Business Insurance

Question 89 in 100 Insurance Questions in 100 Days Video Series! If you are a business owner, or an employee of one who has the responsibility of handling the insurance, you’ve probably been asked for these before. To see what loss runs are, and why it’s hard to change insurance companies without them, click on this brief video explanation.

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Do I need to list non W2 employees on a New York Workers Compensation policy?

By Business Insurance

Question 78 in 100 Insurance Questions in 100 Days Video Series? As a business owner, having to figure out who to put on a workers compensation policy and who not to, is probably not your idea of a good time. I can relate. However, in New York state we have some rules (surprise) and those rules say that if you are paying someone, they’d better be listed. The cleaner of your office, the person you hired for social media, the outside sales person, and more could end up needing to be accounted for. See this brief video explanation for more.

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Do business owners have to be listed on New York Workers Comp?

By Business Insurance

Question 76 in 100 Insurance Questions in 100 Days Video Series! As a business owner you might not see a need to insure yourself on a Workers Compensation insurance policy. It boils down to weather you want to cover for lost wages if you become hurt on the job. Otherwise, it’s good old fashioned health insurance that will pay to put you back together! Watch this brief video to learn more.

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Does my business need short-term disability insurance?

By Business Insurance, Employee Benefits

When do we have to offer New York short-term disability benefits? New York short-term disability insurance is a required benefit. Anyone who runs or operates a business with employees must carry it. It provides a temporary benefit for anyone who becomes injured or disabled off the job. Unlike workers’ comp, where you end up getting hurt or ill due to something that happens while at work, this is coverage for anything that happens to you pretty much anywhere at any time. Rules for New York short-term disability Basic coverage equals 50% of the employees weekly pay. However, $170 per week…

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