A recent news report indicates that some Tulsa Oklahoma business owners may be purposely missing their workers compensation payments in order to reduce overall costs. Here are some reasons to rethink this option.
- Oklahoma state law requires all employers to provide workers comp insurance, even if they currently only have one part-time employee. Noncompliance may result in having the doors to your business closed for good or substantial fines.
- You have a valuable reputation to maintain. If you are a local business and you do not offer workers compensation to your staff, you may get disgruntled employees and have no support from the community.
- Most employees will choose not to work for you knowing you do not have their safety in mind by not providing coverage.
- If an employee gets hurt and you have no coverage, you can face litigation and claims. You may also be responsible for legal fees and the cost of injury.
- You could be fined. The Oklahoma Labor code may impose fines to those businesses that are not providing workers comp insurance to their employees, these fines can be very costly!
Give one of our specialists a call today at All American Insurance and let us help you with your Oklahoma workers compensation needs.