Global Courant
Each state has its own requirements for insurance policies and worker coverage. That’s why it’s so important to take a closer look at what your state may require and to make sure you stay compliant with the latest regulations. Here, we provide an overview of Florida workers’ compensation requirements and how they break down their tenures.
The state of Florida has rules for this that are a bit more complicated than some other states. They essentially offer two different ways to break down their requirements, based on both company size and industry type.
One of the reasons for this is the prominence of Florida’s agricultural industry, which differs from many other states in the country. Not only is it a huge industry in the state, but also, unlike certain other areas, it is highly seasonal.
Therefore, farms that have 12 seasonal workers, for 30 days or more, or farms that have six permanent employees year-round, are required to have worker compensation coverage.
Meanwhile, there is no employee minimum in construction. The mandate is that every employer in the construction industry must provide occupational accident insurance without exception.
Agriculture and construction are the two industries with their own rules. For all other companies in their myriad industries, the requirement or minimum is four or more employees.
Employees can be full-time or part-time in all of the above cases. That’s to prevent employers from hiring more part-time workers to avoid insurance and other responsibilities. Companies with corporate structures, board members, and so on may be able to apply certain waivers or exceptions, but these can be handled on a case-by-case basis.
Another factor to consider is when your policy may expire and in turn need to be renewed. There is no strict mandate as to what this date is in Florida. That said, for many companies, the expiration date will be set at the end of the calendar year, December 31. It is then important to take this into account for your end-of-year planning.
For any business owner or manager trying to properly maintain their coverage for this and all other types of insurance or corporate bonds, it’s important to work with a local expert who can help you through the process. Always consult a professional before tackling any matter yourself to ensure you are taking all the necessary steps and doing it properly.
Florida Employee Compensation – You Need to Know
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