Employers Liability Insurance Kansas Policy Information
Employers Liability Insurance Kansas. Most business owners know the importance of workers compensation insurance to protect themselves from claims for injury by those they employ. However, businesses have realized that workers comp doesn't cover everything. The exceptions in this widely mandated employee benefit have prompted businesses to develop a companion product called employers liability insurance.
Employers liability insurance Kansas covers you against compensation claims arising from employee illness or injury, sustained as they work for you.
Employers Liability insurance Kansas protects your business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Building Your Employers Liability Insurance Policy
Employers Liability Insurance is compulsory for any business that has one or more direct employees. This includes full-time and part-time employees, self-employed contractors you hire, temporary staff, apprentices, volunteers and people taking part in work experience or on the job training.
Most policies extend the definition of a direct employee to include: labor-only sub-contractors or persons supplied by them, self-employed persons, persons hired or borrowed by the insured under agreement or persons engaged in training, education or work experience. This means that claims against your business under these categories will be indemnified by your employers liability insurance Kansas, providing you are covered.
Some KS employers are exempted from this type of insurance. These include; a limited company where only 1 person is employed and that person also owns more than 50% of the share capital; a company which is not limited and has only 1 employee (sole trader) who is the principal of the business; a company which is not limited and of more than 1 employee where employees are close family members; and partnerships where the directors are equal partners in the business and do not employ others.
How ELI Works
Employers liability insurance Kansas typically involves one of these types of claims:
- Third-Party Over Actions. In this case, another party which was held accountable for your employee's injuries files this law suit against your company. So say, for instance, one of your workers was injured while equipment you hadn't properly maintained. The worker sues the producer of the equipment, then the manufacturer turns this around to sue you for negligence.
- Loss of Consortium. The spouse of an injured worker files this law suit.
- Dual-Capacity Suits. A worker can file this law suit against their employers if an item the employer manufactures caused their injury.
- Consequential Bodily Injury. This applies when a family member of your employee suffers bodily injury caused by the employee's injuries.
Employer's Liability Insurance Claims
ELI claims wide-ranging. They can and do arise from ex-employees as well as current ones. They can be brought due to a wide range of physical and psychological injuries and/or industrial diseases sustained during the course of employment. Such claims should never be taken lightly or disregarded. Even a minor injury can cost thousands to deal with while more serious injuries or illnesses, can easily lead to claims in the tens or hundreds of thousands of dollars. Some examples are:
- Mental injury or stress not accompanied by any physical injury.
- Nervous shock or fright not accompanied by any physical injury (this may result in serious illness, such as heart attack or stroke).
- Disease brought on over time (e.g. exposure to the elements or extremes of temperature).
Why Do I Need KS Employers Liability Insurance?
Accidents happen, accusations are made, lawyers get involved and people want compensation. Rightly or wrongly these things happen every day and, sooner or later, you will be on the receiving end. A claim won't go away if you ignore it. And there are no shortcuts. So you need employers' liability insurance because you have a business to run; because you have limited funds; because you're not legally trained; and because your reputation matters.
Employers liability insurance Kansas is not generally bought by itself. This is because when you have direct employees you almost certainly require KS workers comp. You can buy ELI directly from an insurer or from a specialist broker. The exact cost of the premium is based on a number of factors including the line of the business, the number of people you employ and your previous insurance claims history.
Kansas Economic Data, Regulations And Limits On Commercial Insurance
Whether you're an experienced business owner who has successfully started several companies or you're a novice who is looking to establish your first startup, selecting the right location for your operations is extremely important.
It doesn't matter how stellar the products and services you offer are, if the location where your business is located doesn't offer a favorable climate, it's more than likely you aren't going to succeed.
With that said, if you're thinking about starting a new business or opening a division of your existing company in the state of Kansas, having an understanding of the economic data of the state is crucial.
Additionally, you it's also a good idea to know what type of commercial insurance policies you'll need to invest in if you operate a business in the state. Below, we provide an overview of this information so you can determine if the Sunflower State is the right place for your business endeavor.
Economic Trends For Business Owners In Kansas
In regard to job growth, the state of Kansas exceeds the national average. As of December, 2019, the unemployment rate was 3.2%, reports the Bureau of Labor Statistics; that's 0.3% lower than the national unemployment rate, which was 3.5% at the same time.
The rate has remained relatively steady, as it was 3.3% in December of 2018 and 3.5% in January of 2018; in fact, it has slightly improved. As per economists, the workforce and the economy is considered to improve or at the very least, remain steady, in upcoming years.
The state of Kansas, overall, is considered a good location for business owners; however, there are specific areas that provide better opportunities than others. Generally, these areas are the state's largest metropolitan regions and the suburbs that surround them, including:
- Kansas City
- Overland Park
Not only are these cities seeing an increase in the number of new businesses, but they also have an ample workforce, as well as a higher median income, than other areas in the state.
While there are several industries that thrive in KS, there are particular sectors that tend to do better than others. These include:
- Advanced manufacturing
- Aerospace engineering
- Biosciences and health
- Cattle production
- Food processing
- Logistics and distribution
- Non-fuel industrial minerals
Commercial Insurance Requirements In Kansas
The Kansas Insurance Department regulates insurance in KS. Kansas mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Kansas requires you to have worker's compensation insurance if you hire even one employee on a regular basis unless your business is involved in certain agricultural areas or has a gross annual payroll of less than $20,000. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Kansas also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Small Business Insurance
Protect your company and employees with the right commercial insurance policies. Read informative articles on small business insurance coverages - and how they can help shield your company from legal liabilities.
- Small Business
- Business General Liability
- Business Interruption
- Business Liability
- Business Owners Policy (BOP)
- Certificate of Insurance
- Commercial Auto
- Commercial Crime
- Commercial Package Policy
- Commercial Umbrella
- Comprehensive General Liability
- Directors and Officers Liability
- Cyber Liability
- Employment Practices Liability
- Event Cancellation
- Fiduciary Liability
- General Liability
- Home Based Business
- Independent Contractor
- Liability Insurance Certificate
- Liability Insurance
- Ocean Marine
- Professional Liability
Your small business faces many potential disasters including: fire, floods, theft, equipment breakdown, lawsuits from clients or customers and current & former employees. Any many other risks you haven't even thought about.
A small business commercial insurance program should provide protection for both larger and smaller disasters. The obvious things like fire, flood and theft most business owners think about... but what if a hacker infects your computers with a virus - and files containing private customer information like credit card and Social Security numbers are stolen?
Who is going to pay to fix your customers credit rating etc...? Will your insurance pay for the cost? You need to know that.
Your commercial insurance program should cover events that can close down your company, or cause it to lose revenue. Anything less than that is not enough coverage. Commmercial insurance doesn't cover everything, and all policies have exclusions and limits.
You need a written plan that allows you to get your operations back up and running as quick as possible.
Request a free Employers Liability Insurance Kansas quote in Abilene, Andover, Arkansas City, Atchison, Augusta, Baldwin City, Basehor, Baxter Springs, Bel Aire, Beloit, Bonner Springs, Burlington, Chanute, Clay Center, Coffeyville, Colby, Columbus, Concordia, De Soto, Derby, Dodge City, Edwardsville, El Dorado, Ellsworth, Emporia, Eudora, Fairway, Fort Riley, Fort Scott, Frontenac, Galena, Garden City, Gardner, Garnett, Girard, Goddard, Goodland, Great Bend, Hays, Haysville, Hesston, Hiawatha, Hillsboro, Holton, Hugoton, Hutchinson, Independence, Iola, Junction City, Kansas City, Kingman, Lansing, Larned, Lawrence, Leavenworth, Leawood, Lenexa, Liberal, Lindsborg, Louisburg, Lyons, Maize, Manhattan, Marysville, McPherson, Merriam, Mission, Mission Hills, Mulvane, Newton, Norton, Oaklawn-Sunview, Olathe, Osage City, Osawatomie, Ottawa, Overland Park, Paola, Park City, Parsons, Pittsburg, Prairie Village, Pratt, Roeland Park, Rose Hill, Russell, Sabetha, Salina, Scott City, Shawnee, Spring Hill, St. Marys, Tonganoxie, Topeka, Ulysses, Valley Center, Wamego, Wellington, Wichita, Winfield and all other KS cities & Kansas counties near me in The Sunflower State.
Also find Kansas insurance agents & brokers and learn about Kansas small business insurance requirements for general liability, business property, commercial auto & workers compensation including KS business insurance costs. Call us (620) 205-2115.