What If I Don’t Have Workers’ Compensation Insurance For My Business in Okmulgee?

Workers’ Compensation Insurance

If you don’t have workers compensation insurance and an employee gets injured on the job the consequences can be grave. Imagine this. Johnny works for a pizza shop. The employer successfully interviewed Johnny and warned Johnny to wear slip-resistant shoes to work. One day, Johnny ran late to work and wore the wrong pair of shoes. While transferring fresh pizza over to the cutting table, he slipped on oil and injured his back. An ambulance had to transport him to the hospital, where an x-ray revealed Johnny had sustained a severe spinal cord injury. He sued his employer for damages. But the employer didn’t have workers’ compensation insurance. If you’re an Oklahoman employer and in a similar situation, continue reading to learn more about Oklahoma’s workers’ compensation insurance laws.

Workers Comp Defense Lawyer

If you are an employer and one of your employees gets injured you be in real trouble. First problem is that the state requires you to carry the insurance and if you fail to have it the state will fine you. They me even bill you for all the prior periods that you operated without the insurance.

The next problem you are going to face is the burden of paying for medical treatment and any disability is on you. This is even the case if the injury is less than serious. The cost of business litigation alone is high and without having workers compensation insurance you could find yourself with that burden.

Workers’ Compensation Insurance

Before we go further, let’s clarify what workers’ compensation insurance does. Most businesses carry this insurance in the matter that cases like Johnny’s arise. If your business has this insurance, your insurance company pays for Johnny’s recovery—not your personal business. Your insurance covers any medical expenses and lost wages Johnny is likely entitled to if he files a personal injury claim against you. Also, your insurance policy may include a provision that prevents injured employees from suing you if they accept workers’ compensation benefits. These are just a couple of reasons why it’s beneficial to have workers’ compensation insurance.

Businesses Exempt From This Law

The law requires most businesses, including Oklahoma businesses, to carry some form of workers’ compensation insurance. For example, if your employees own less than a 10% stake in your business, you must have this insurance unless an exception applies.

Sole Proprietorship

If you’re a sole proprietorship, LLC, or co-owner of a partnership, then you’re exempt from Oklahoma’s mandatory insurance policy law. But keep in mind that you’re only exempt if each member or shareholder has at least a 10% ownership stake in your LLC or corporation.

Family Business

If you’re a family business that has employed five or fewer people, then the law doesn’t require you to purchase workers’ compensation insurance either. However, as the name suggests, you must meet one other essential criterion to use this status to your benefit. These employees must be related to you by blood, marriage, or adoption.

Independent Contractors

If you’re an independent contractor, the law requires you to have workers’ compensation coverage if you subcontract out your work. Otherwise, you’re liable to pay the subcontractor’s work-related injuries out of pocket. This can be expensive, put you in debt, or even end your business.

Kania Law Office – Okmulgee Lawyers

If you’re wondering whether you should consider getting insurance for your company, you don’t have to make this decision alone. Let an attorney assist you. A good business law attorney can help you:

  • Stay in compliance with all state laws
  • Inform you of your duties as an employer
  • Advise you on which insurance policies are best suited to your needs

Imagine this. Johnny works for a pizza shop. The employer successfully interviewed Johnny and warned Johnny to wear slip-resistant shoes to work. One day, Johnny ran late to work and wore the wrong pair of shoes. While transferring fresh pizza over to the cutting table, he slipped on oil and injured his back. An ambulance had to transport him to the hospital, where an x-ray revealed Johnny had sustained a severe spinal cord injury. He sued his employer for damages. But the employer didn’t have workers’ compensation insurance. If you’re an Oklahoman employer and in a similar situation, continue reading to learn more about Oklahoma’s workers’ compensation insurance laws.

Okmulgee County Business Lawyers

If you have an injured employee and don’t have workers’ compensation insurance you need legal representation. From fines and costs together with potential medical expenses the stakes are high. Our Workers compassion attorneys have done thousands of cases over the years. We know how to leverage this experience for your benefit in those instances where you don’t have workers’ compensation and an employee is injured. For a free and confidential consultation with an attorney at Kania Law – Okmulgee call 918.621-8083Or you can click here to ask an on line legal question.