What Happens if an Employee Gets Hurt & You Don't Have Workman's Comp?

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If an employee gets hurt and you don't have workman's comp insurance, a few very specific things are going to happen next. Find out what happens if an employee gets hurt and you don't have workman's comp with help from a business and finance professional in this free video clip.

Part of the Video Series: Business Tips & Insurance Info
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Video Transcript

Hi, I'm Ernie Bray, and I'm going to talk a little bit about what happens if you have an employee that gets injured and you don't have workers compensation insurance. Well, first of all, you're going to be in big trouble because it's labor law. It's code that you have to have workers compensation insurance. You can buy one through a general fund through local state agencies or you can buy it on the commercial market. But what you need to do is make sure you don't even have this happen because here's what happens if you don't have insurance for your workers. They can file lawsuits against you personally, and your business, and could lead you to financial ruin. You'd have to actually pay for this worker's injuries out of your own pocket and face severe fines and penalties by the state and local agencies. You don't want this to happen. Just make sure you follow the law, buy the insurance, and take care of your employees. You don't want to have to put yourself in a legal situation that could destroy your business. I'm Ernie Bray, and thanks for listening.

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