Workers’ Comp Insurance for Fishing Companies in Georgia
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Most fishing companies will need to purchase a Workers’ Compensation policy in Georgia. Otherwise, fishing companies could be given fines for non-compliance.
The possibility of workplace accidents increases when companies are in dangerous industries like the fishing industry. Fishermen might fall overboard, hit their heads, or suffer other severe injuries like broken bones in Georgia. Because of this, most fishing companies will need to get Workers’ Compensation in Georgia, depending on their payroll. If your company does not get insurance, it might have to pay equitable damages to an injured employee. Getting Workers’ Compensation is essential, as failure to do so could result in severe fines and penalties from the State Board of Workers’ Compensation in Georgia.
For more information about how the Georgia Workers’ Compensation insurance brokers at NPN Brokers can help your fishing company, call us today at (866) 340-9120.
Common Reasons for Workers’ Comp Insurance Claims for Fishing Companies in Georgia
Fishing companies in Georgia, many of which operate on the state’s eastern coast in the Atlantic Ocean, might see employees file Workers’ Compensation claims for various reasons. This include slip and fall accidents, falls overboard, and other incidents that cause injury in Georgia.
Fishing is a dangerous industry. Fishermen work on boats, making them susceptible to slip and falls, falling overboard, and possibly drowning or sustaining anoxic brain injuries. The equipment used while fishing might also cause serious injuries like broken bones, fractures, and burns.
Because fishing is a labor-intensive occupation, injured fishermen might be unable to return for some time after filing a Workers’ Compensation claim. Furthermore, it might be more challenging for fishing companies to find transitional jobs suitable to an injured employee’s work restrictions, meaning a worker might receive full wage-loss benefits for the duration of their recovery time in Georgia.
Since fishing companies are in a dangerous industry, they might have difficulty finding inexpensive Workers’ Compensation insurance that suits their needs. Our Workers’ Compensation insurance brokers can locate a policy that is affordable and thorough, covering all fishermen employed by your company in case of a workplace accident in Georgia.
Workers’ Comp Insurance Mandates for Fishing Companies in Georgia
Because Georgia’s payroll threshold for Workers’ Compensation is relatively low, most fishing companies must have insurance. There are only a few Workers’ Compensation exemptions available in Georgia, which might not apply to all fishing companies.
Any fishing company in Georgia with more than two workers will need Workers’ Compensation. This means that very small fishing companies may be able to go without insurance without facing penalties from the State Board of Workers’ Compensation. However, being uncovered, even if you are not mandated to have insurance, can leave your fishing company in a vulnerable situation if a worker is hurt on the job in Georgia.
The main Workers’ Compensation exemptions available in Georgia pertain to LLC members and corporate officers. These individuals can file for an exemption from coverage, possibly lowering a fishing company’s Workers’ Compensation policy premiums. At most, five corporate officers or LLC members from the same company can be exempt from Workers’ Compensation at the same time in Georgia.
Liability for Worker Injuries for Fishing Companies without Workers’ Comp Insurance in Georgia
Suppose your fishing company needs Workers’ Compensation according to Georgia mandates, which most do, and fails to obtain a policy. In that case, it may end up being financially responsible for certain damages an injured employee incurs.
Workers’ Compensation is the sole remedy for injured employees in Georgia, meaning employers are shielded from litigation. While this holds true, even if a fishing company does not get Workers’ Compensation when required, a fishing company will still be financially responsible for paying benefits to an injured worker in Georgia.
The same benefits will be available to injured employees. So, a fishing company may have to pay wage-loss benefits to an employee, which are two-thirds of their average weekly wages for up to 350 weeks or 400 weeks, depending on their injury, and benefits for medical damages.
The State Board of Workers’ Compensation might increase benefits payable to an injured employee of a fishing company by 10% if the fishing company was required to have Workers’ Compensation based on its payroll numbers and failed to in Georgia.
How to Get Workers’ Comp Insurance for Your Fishing Company in Georgia
Businesses in industries that present an elevated risk for workplace accidents, like fishing companies, might struggle when finding Workers’ Compensation. Evaluating policies and choosing one that best meets your needs in Georgia is important.
After getting the necessary information about your fishing company, like its payroll, history of workplace accidents, and prior Workers’ Compensation claims, our brokers can source quotes within a day. You can then review policies and premiums to find a plan that matches your preferences.
Depending on your needs, pay-as-you-go insurance might be preferable. This is often best for fishing companies with revolving payrolls that might have a frequent change in employment numbers on a month-to-month basis.
For many companies, deposits, audits, and contracts can become expensive and cause administrative headaches. The carriers we work with do not require these processes, allowing you to save time and money when getting Workers’ Compensation.
Maintaining coverage is important for fishing companies in Georgia. If your policy lapses, you might be vulnerable to fines from the Board of Workers’ Compensation. Fines include penalties of up to $5,000 for acts of non-compliance. Continued non-compliance with Georgia’s Workers’ Compensation rules might result in additional fines of $10,000 or a year imprisonment for employers of fishing companies. To avoid these penalties, it is necessary to maintain a Workers’ Compensation policy for your fishing company at all times in Georgia.
Find a Workers’ Comp Policy for Your Georgia Fishing Company Today
Call our Workers’ Compensation insurance brokers at (866) 340-9120 to learn more about NPN Brokers today.