It is critical for employers in every industry to carry workers compensation insurance. This is especially true for business owners who work in the boating and maritime industry. Here is one of the most important reasons why it’s important for an employer in the boating business to be properly covered. (This coverage includes general workers’ compensation and USL&H insurance which is explained below)
Injuries May Occur – and It’s Imperative to be Protected
If an individual operates a boating business, there is a high likelihood of employees working around somewhat hazardous locations, such as boat docks and piers, as well as conducting work on large water vessels, and of course, working by and on the water. These conditions could lead to slip and fall accidents and other types of injuries that may require medical attention for a worker. It’s vital for an employer to be protected if any sort of injury occurs.
It’s not only important to have reliable workers’ compensation coverage that will cover potential medical costs for an injured worker. It may be required for a business owner to carry USL&H insurance. This stands for workers’ compensation coverage mandated under the United States Longshore & Harbor Act, which is necessary for several types of companies that hire workers to conduct work close to or on navigable waters in the United States. If an employer does not have such insurance, they may face legal and financial consequences. It is beneficial for a business owner to explore this type of workers’ compensation coverage to protect their business – and their employees.