Accountants Workers Compensation

Accountants Workers Compensation is Required

For accountants Workers Compensation, it maybe that for an accounting firm, the risk of employee on the job injury is low. This is probably correct, however, if the state laws or client contract requires there be coverage then you’ll need to buy a workers compensation policy for the business. This type of insurance will cover liability and pay for medical expenses and for some of the lost wages. Workers compensation does this only if the employee is injured on the job or suffers an illness that was incurred during their time in the work environment.

If you’re an individual accountant who works on their own you may want to be very careful about the insurance an workers compensation laws in that state. When you sign a contract with certain client contracts they may require you to have workers compensation. That way the client won’t have to add you to their insurance policy to comply with the insurance and state laws they must meet. That would be an extra expense for them so if you go into the job with workers comp already in place, they know they don’t have to worry about that.

There is an aspect of being an accountant that can be tricky to determine if a workers compensation claim needs to be filed. If the accountant you hire is an AAA-CPA member, which is the American Association of Attorney-Certified Accountants they will be dually qualified as both an attorney and a CPA and under different state laws. Make sure you are aware of what those laws are before you sign a contract with them.