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Risk Management

If you own your own business, it’s a big deal, congratulations! One part of owning a business is making sure you protect it. That’s where having the proper insurance comes in. If you have employees at your business, it’s likely you should be carrying workers’ compensation insurance. This insurance covers you in the event that one of your employees suffers a work related injury or illness and can protect you from a potential lawsuit.

If you employ an individual who suffers an injury while on the job and you have workers’ compensation insurance, this will usually be taken care of by your insurance provider. It is your employee’s right to seek compensation, and your insurance provider’s job to decide if they are eligible to receive benefits. Even though most workers’ compensation claims are settled without the use of an attorney, there are instances where you could benefit from employing an attorney.

If you are considering hiring an attorney, contact us today. At the Law Office of Steven M. Fried, P.A., we have more than two decades of experience handling workers’ compensation risk management cases. We are committed to providing excellent service, and give every case the care and attention we would if it was our own family’s case. Don’t put your business’s finances at stake, contact our office today at (954) 792-9LAW for your FREE, no obligation consultation.

Why Do I Need to Hire an Attorney for My Business?

There are some instances where business owners can benefit from hiring an experienced workers’ compensation risk management attorney.

If you would like to ensure you are in compliance with all workers’ compensation laws that apply to your business, as well as guarantee that all of your employees are properly classified in your policy. Understanding the laws concerning workers’ compensation, as well as how benefits may differ, can be difficult. That’s why seeking legal counsel may be a good idea and help put your mind at ease.

If your employee applied for workers’ compensation benefits and their claim was denied, they have the right to appeal this decision. This happens if the employee feels their claim was incorrectly denied, or if they feel the benefits they received were incorrect or unfair.

If your employee rejects their workers’ compensation benefits. In most cases, when an injured employee accepts their benefits or a settlement package, they give up the right to pursue a lawsuit against your business. So when a settlement is rejected it could signal that your employee is planning to pursue litigation. In this case, it is likely that your workers’ compensation insurance policy comes with liability insurance that will help cover the costs of such a lawsuit, as well as hiring an attorney.

If your business fails to purchase the necessary workers’ compensation insurance, and your employee is injured on the job, you could face serious consequences. You could be held accountable for your employee’s medical treatment and recovery costs, as well as face state penalties and lawsuits. In this case, it is imperative that you hire an experienced attorney.

If your employee hires an attorney to handle their workers’ compensation claim, it may just be because they don’t understand the claims process, or would like advice on what an appropriate settlement looks like. This isn’t always cause for alarm, but again, if your employee decides to appeal the decision on their claim or rejects their benefits all together, this is a good time to consider hiring an attorney.

What Does Risk Management Look Like for My Business?

Managing risk is an important part of any business, it does not mean you benefit at the expense of your employees. When you employ proper risk management techniques, it benefits you as well as everyone that works for you. Risks are present for all sizes of businesses, and as your business grows, so do the risks involved. This is why while you are working to grow your business, it is important to get ahead of these issues by working with an experienced workers’ compensation risk management attorney. Don’t wait until you have problems, fix them before they even arise by talking to an attorney today.

If you are in need of help with handling any workers’ compensation issues for your business, contact us today! At the Law Office of Steven M. Fried, P.A., we have extensive experience working with business owners just like you to mitigate the risks. We understand how these complex laws can affect your business on a day to day basis. So contact us today at (954) 792-9LAW for your consultation, which can be done in person, over the phone, or via Skype.