Both federal and state-level governments have taken steps to ensure that the United States’ labor force is protected from exploitation and hazardous working conditions. While there are rules governing working conditions, there have also been regulations to address workers’ benefits and wages.
The Importance of Workers’ Compensation
Under workers’ compensation legislature, eligible injured workers receive both medical care and partial repayment of lost income for injuries sustain on the job. This coverage is offered through a benefits plan, with the limitations of an application being influenced by the size and scope of the business. This coverage also protects employers from being sued by employees who were injured while working.
The Eligibility of Workers’ Compensation
There are many variables in determining eligibility for workers’ comp, though the primary factor for companies required to carry it is how many employees are on payroll. There are some smaller businesses and services that elect to carry and offer this coverage to their employees, and an FLDFS proof of coverage search would reveal which employers offer a policy.
State governments determine what coverage is required, and some states dictate where the plan must be purchased. Employers that don’t comply are exposed to heavy penalties from state authorities, as well as the financial burden of settling an accident or injury claim out of pocket. Either of these situations could be devastating for a company.
General liability is not legally required for non-commercial owners in the aviation business. However, the majority of accidents and crashes involve small aircraft and private owners. This often leaves passengers injured in a crash to pay for their own medical expenses afterward, a path that could lead to lawsuits. Why risk all of that when you can invest in general aviation insurance?
General Liability Insurance
General liability in the aviation industry can fall on the owners and pilots of aircrafts that get in a crash. General aviation liability insurance is designed to protect everyone involved, including the owners, pilots and passengers. It can cover property damage as well.
Most insurance companies provide plenty of options for aviation coverage depending on your needs and uses. Whether you have charter or corporate planes, helicopters or experimental aircraft, you can find a policy that covers yourself and your property. You can also get coverage for financial institutions. Specialized insurance is available that covers specific parts of the aircraft, family travel and medical expenses.
Most other insurances don’t cover anything aviation-related, so you will need to look into policies specifically for aircraft. Take out insurance before you fly to give you the peace of mind that you are covered in case an accident occurs.
It is surprising how often you hear stories about how someone chose the insurance company that covers his or her company, home, or life. Perhaps the individual knew the agent in school, or his or her parents used that company. Remarkably, very little thought often goes into selecting and retaining a company that may be insuring part of your future.
Making a wise decision regarding the right insurance firm can be difficult because of all the insurance storefronts in most towns. Another problem for many small businesses or startup owners is the time it can take to interview companies and compare rates. Program Business understands the problem many company owners can face, so the indemnity company put together a list of insurance storefronts to simplify the search.
Understanding the different types of insurance programs available, and if you will require specialty or add-on insurance policies is the first step in locating insurance in your area. Do you require off-site insurance, a construction policy, employee operation terms, or inland marine coverage? Once you decide the type of coverage you need, you can begin discussing deductibles and premiums.
One thing you should remember is that the agent may cover you with a package of insurance, but he or she works for a company – not you. Discuss claim methods and payout processes to understand the business better before you decide on an agent that will protect your future.