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Thinking about starting a business or expanding your current one? If so, you may wonder: “is workers’ comp insurance required in New Hampshire?” And if you have employees, the answer is “yes.” State law requires you to secure this type of coverage, which will provide benefits to employees who sustain a work-related illness or injury. Read on for answers to more workers’ comp insurance FAQs.

What Benefits Does Workers’ Comp Insurance Provide?

is workers comp insurance required in new hampshireIf you are required to purchase workers’ comp insurance, it’s important to understand the benefits this type of coverage will provide. In the event of a work-related accident or illness, workers’ compensation insurance will pay for your injured employee’s medical bills, as well as indemnify his/her lost wages resulting from the accident or illness. In addition, in the unfortunate event of a work-related fatality, workers’ comp insurance will provide death benefits to the employee’s dependents.

Workers’ Compensation systems vary state-by-state, considering that individual statutes and court decisions have influenced the way each state handles claims, settles disputes, and provides benefits. Click here for additional state-specific information on the New Hampshire Department of Labor website.

What is a Waiting Period?

A waiting period refers to the period of time from the date of the injury or illness to when the workers’ comp benefits begin accruing. The 2013-2014 New Hampshire Workers’ Compensation Statutes dictate that the indemnification waiting period is three days, and is retroactively paid if the disability exceeds 14 days or more.

What is an IME?

IME is short for “Independent Medical Exam,” and refers to a medical exam of the injured employee by a medical professional other than the doctor who conducted the original exam. This allows insurance companies and/or employers to challenge the original diagnosis, whether the injury is work-related, and/or the recommended treatment plan, if they feel it is necessary.

Need Workers’ Comp Insurance? Get a Free Quote Today!

“Is workers’ comp insurance required in New Hampshire?” is just one of the many questions our agents receive regarding this complex type of coverage. Serving New Hampshire businesses for more than 70 years, you can rely on the agents at Eaton & Berube to answer all of your workers’ comp insurance questions, and help you secure sufficient coverage at the lowest possible rate. To get a free workers’ comp insurance quote, please call us today at 603-882-2766 or submit our online quote form.

is workers comp insurance required in new hampshire

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