All employers in Colorado must carry workers’ compensation insurance. The owner or the business itself can face penalties under the current system for not carrying insurance, paid by the employer. Under Colorado workers’ compensation law, it generally does not matter whether the worker or the company is at fault for the injury. An employee can file for workers’ comp benefits regardless, and it is essential that employers be covered. Insurance will allow employers to avoid incurring fines and other penalties and to ensure that their workers are taken care of in the event of an accident on the job.
Aside from a few exemptions (businesses working with independent contractors usually don’t require insurance for them; with a special permit, some businesses self-insure against workers’ compensation claims), most businesses purchase workers’ compensation insurance through one of Colorado’s two hundred plus commercial insurance carriers. Employees should be aware that employers are not allowed to deduct any part of the insurance cost from employees’ wages.
Employers should take care when shopping for a workers’ compensation insurance plan.
A few things to keep in mind:
- Look for your plan a few months in advance. Insurance companies will often take over a month to assess your business and loss history and give you a quote.
- Work with an agent to understand the range of plans you’re eligible for, including possible self-funding options.
- It’s essential that your employees are accurately classified by the insurer so that your plan reflects your business and its risk potential.
For employees, remember that it’s your right to a safe working environment, and that includes workers’ compensation insurance. Your employer is required by law to maintain insurance in case you are injured on the job. A Notice to Employer of Injury poster should be displayed at all times.
The bottom line is that if you are injured on the job, you must take steps to ensure that your right to receive workers’ compensation benefits is protected. Ramos Law works for your best interest when you are injured in a workplace accident. Our knowledge of Colorado workers’ compensation laws and our experience representing workers who have been injured in the workplace allows us to provide comprehensive legal services to clients who need a strong, aggressive advocate on their behalf. We want to help you receive the compensation you are entitled to receive for your workplace accident.