The private construction industry has been hurting since the downturn of the economy which has caused increased numbers in contracting companies expanding to multiple states where projects exist. Many contractors have been apprehensive about this change considering that construction is such a high risk job. With just over 5,000 fatal work injuries reported last year in the United States, owners of construction business have to be careful about the workers compensation coverage’s they choose. An owner must think not only do I have an employee performing a dangerous job but I am also providing them with dangerous equipment.
Of course, each state has its own particular set of standards and requirements for securing and maintaining workers compensation insurance. Most states also integrate additional rules for construction companies. Florida’s law is typical of the additional measures some states take to ensure everyone working in construction has coverage in the event of any injury. All construction companies, regardless of size, must obtain coverage. In addition, general contractors and higher-tier subcontractors who subcontract parts of their work must show proof of workers’ compensation coverage or a Certificate of Election to be Exempt from their subs. If they fail to do so, “the sub-contractor’s employees shall become the employees of the contractor (for insurance purposes). The contractor will be responsible to pay any workers’ compensation benefits to the sub-contractor and its employees,” according to the Florida law. U.S. Risk offers multi-state construction workers compensation for all of your needs. We offer a specialized team of underwriters who understand the construction industry. With more than a decade of experience U.S. Risk is the top choice for construction related workers compensation insurance.
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