Why You Need Workers Comp Coverage

Posted by Florida Resource Management on October 4, 2023

Workers’ comp coverage is essential for businesses with any sizable staff. If there’s a chance that someone working for you could get hurt (on the job), then you’ll need to have a plan to handle it, and protect your company. Otherwise, you could face lots of hardship, particularly on the financial side.

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Reasons to Have Workers’ Comp Coverage for Your Florida Business

  1. Florida Requires It - This would depend on the industry, but in most cases, any company that operates or conducts business in Florida must carry workers’ comp coverage. The specific parameters for coverage are based on the size of labor force, the industry type, and the work involved.
  2. Penalties for NOT Having It - Like other regulatory matters, we never recommend trying to oppose or circumvent the law. Even if you avoid audits or investigation for a little while, the state will eventually discover it, and impose penalties. Hence the reason it helps to have a dedicated HR apparatus to help you make sure you’re always in compliance. This is one of the primary purposes of Florida Resource Management, a consulting and management firm, designed to help you handle things like workers’ comp.
  3. It Affects All Incidents (Regardless of Fault) - Since employees are eligible for workers’ compensation, regardless of fault, you’ll need to have an insurance program. Even if you run the safest work environment in the world, injuries are possible, and workers’ comp can become a factor.
  4. Other Insurances Don’t Cover It - Although it may seem frustrating to have to manage (and pay for) yet another form of insurance, there’s not much of an alternative. Employee health insurance programs don’t include it, so it becomes a separate issue for both the company and employee.

How Can Florida Resource Management Help?

Those are just a few reasons it helps to equip yourself with effective workers’ comp management and coverage. While some companies handle this through their in-house human resources department, we offer an alternative approach where you can outsource it to our dedicated professional employer organization (PEO). This lets you rely on us to manage workers’ comp, employee payroll, and every other bureaucratic personnel element.
So, if you’re ready to upgrade your company’s HR performance, and avoid workers’ comp trouble, then consider the services of Florida Resource Management. Our team can help you organize the personnel management side of your business, allowing you more time for running the other critical aspects. Contact us today to learn more about workers’ comp for Florida businesses by calling 941-343-6160.

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