Small Business Coverage and Peace of Mind
While most people think major casino corporations dominate Nevada’s economy, the Silver State is home to more than 223,000 small businesses.1 These independent businesses represent 95.6% of Nevada’s employers and provide paychecks to over 418,000 people, or roughly 42% of the state’s private-sector workforce. From hotels and resorts, to cattle ranching and mining, to restaurants and retail stores, Nevada’s workers’ compensation needs are as diverse as the small businesses that fuel the state’s economy.2
What are the Nevada Workers’ Compensation Insurance Requirements?
From restaurant suppliers to slot machine repair services, all Nevada employers who have at least one employee must carry workers’ compensation insurance.3 Business owners can face fines up to $15,000 if they fail to obtain workers’ compensation insurance. Furthermore, Nevada workers’ compensation is an exclusive remedy. This no-fault insurance program provides benefits to employees who are injured on the job while protecting employers from costly lawsuits.
Nevada Workers’ Compensation Laws
Business owners should be aware of a few key NV workers’ compensation laws. An injured employee must notify his or her employer of their injury within seven days of the accident, but ideally as soon as possible. From there, the employee has 90 days to file a workers’ compensation insurance claim with their company’s insurance provider. The insurer will then decide whether to approve or deny the claim and must notify the injured employee within 30 days.
What are the Nevada Workers’ Compensation Benefits?
Once a claim is accepted, an injured employee can be eligible for a range of benefits, depending on the extent of the injury. These include:
- Temporary Total Disability. If an employee is completely disabled and cannot work, he or she is entitled to a payment of 66.66% of their wage, paid bi-weekly
- Temporary Partial Disability. If an employee is able to return to work, but is earning less than his or her previous salary, the employee is entitled to supplemental wages that are 66.66% of the difference between the pre-injury and current earnings.
- Permanent Partial Disability. If an injured employee experiences a permanent impairment, he or she is entitled to a lump-sum settlement, which takes into account the extent of the disability, the worker’s age, and wage.
- Vocational Rehabilitation Maintenance and Training. If an injured employee is injured to an extent that he or she must change occupations, supplemental wages and a training program are available to ease this transition.
- Permanent Total Disability. If a worker is completely unable to work after a work-related injury, the employee is entitled to regular payments for the rest of his or her life.
Additionally, NV workers’ comp laws allow injured employees to petition to reopen their claim at any time. If a doctor can confirm that the employee’s injuries have worsened, their cases may be reassessed and new or additional benefits could be available.
EMPLOYERS traces its roots in Nevada back more than a century. Learn about our rich history.
Nevada Workmans’ Comp Coverage You Need
Interested in learning more about how EMPLOYERS can help your Nevada business? Request a quote for workers’ compensation insurance from EMPLOYERS!
Thousands of small businesses trust EMPLOYERS for providing cost-effective workers’ compensation insurance for over a century. With our competitive pricing, financial stability and dependability, claims service, safety training and loss control programs, EMPLOYERS remains focused on keeping America’s small businesses not only working, but working safely.
1. Nevada Mining Industry Summary of Economic Impact,“ Nevada Mining Association, May, 2015. https://www.nevadamining.org/wp-content/uploads/2018/01/NMA-Brief05-Economic-Impact-Summary.pdf
2. “Small Business Profile, Nevada,” SBA Office of Advocacy, February, 2013. https://www.sba.gov/sites/default/files/nv12.pdf
3. “Workers’ Compensation Frequently Asked Questions,” Nevada Department of Business and Industry, September 26, 2012. https://dir.nv.gov/uploadedFiles/dirnvgov/content/WCS/EmployersDocs/EmployerFAQ.pdf.
In Nevada, Workers’ compensation insurance and services are offered through Employers Preferred Insurance Company, Employers Compensation Insurance Company, Employers Insurance Company of Nevada and Employers Assurance Company. Not all insurers do business in all jurisdictions.