Workers’ Compensation Insurance
New Jersy employers are required by statute to maintain workers’compensation for their employees. Our agents will be happy to assist you in obtaining a policy when your Commercial Liability policy is written through Blue Bridle and your equine operations are located in New Jersey. Premiums are based on classifications of the work being performed by the employees, the claims experience of the employer and payroll.
This insurance provides benefits to employees for work related injuries and financial compensation to the worker for loss of earnings. It can aso provide death benefits in the event of a fatality. If you have one or more individuals performing services for financial consideration you may be required by law to provide them with workers’ compensation insurance. (Financial consideration means any remuneration for services and includes cash or other remuneration in lieu of cash.) The IRS has developed factors that are used as guidelines to determine whether a worker is an employee or an independent contractor. If you are in doubt as to the status of a worker, you should consult with a competent professional with respect to your particular situation.
Workers’compensation and employer liability laws vary by state. You may contact the compensation and rating bureau in your home state for information and requirements. Penalties for not providing this coverage can be severe.
Contact Us for more information.