Small Business Coverage and Peace of Mind
Rhode Island is home to some of the oldest businesses in the United States – including the nation’s first discount department store and the oldest operating tavern (built in 1673).1 Today, small businesses employ more than half of the Rhode Island workforce.2 According to a state study, Rhode Island employment is expected to reach 545,550 jobs by the year 2022 – that’s an increase of 10.4% compared to 2012. In particular, industries projected to expand by 10.5% or more include manufacturing, retail trade, finance and insurance, educational services, and professional and business services.3
Is Workers’ Compensation Insurance Required for my Rhode Island Business?
In Rhode Island, most business owners who have one or more employees must carry workers’ compensation insurance. Workers’ compensation is a form of no fault insurance which provides assistance to employees who suffer a work-related injury or occupational disease. In Rhode Island, failure to carry workers’ compensation insurance can result in civil and administrative penalties for each day of noncompliance. Business owners can also face criminal penalties including additional fines and potentially even imprisonment.4
Beyond the legal requirements for Rhode Island businesses, workers’ compensation is just a good idea to help protect your business and your employees. Among other benefits, workers’ compensation benefits may include medical care and wage replacement for employees who sustain a work-related injury or occupational disease. Your insurance carrier may also provide value added services such as a return to work program to help get your employees back to work as quickly as possible.
Getting Workers’ Compensation Insurance Coverage with EMPLOYERS
When looking for a workers’ compensation insurance carrier, keep in mind that a carrier’s focus should be on workers’ compensation and value added services that help protect your business today and set your business up for success in the future.
At EMPLOYERS we have over 100 years of experience exclusively serving the workers’ compensation insurance needs of America’s small businesses. We also offer many value added services such as cash flow assistance with flexible payment plans, loss control support and fraud prevention.
Rhode Island Workmans’ Comp Coverage You Need
Interested in learning more about how EMPLOYERS can help your Rhode Island business? Get started by connecting with a local agent for cost-effective 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 risk advisory programs, EMPLOYERS remains focused on keeping America’s small businesses not only working, but working safely.
1. Rhode Island.gov. Fun Facts & Trivia. https://www.ri.gov/facts/trivia.php
2. Rhode Island Commerce Corporation. https://commerceri.com/
3. Rhode Island Department of Labor and Training Labor Market Information. 2012 – 2022 Expanding & Declining Industries. https://dlt.ri.gov/lmi/
4. Rhode Island Department of Labor and Training Workers’ Compensation. http://www.dlt.ri.gov/wc/