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Utah workers’ compensation rules mandate that any business with employees must carry coverage. Workers’ compensation plays a crucial role in helping employers safeguard their workforce while assisting employees if they are injured or harmed while on the job.
Utah workers’ compensation rules are stringent, but there are ways for small business owners to avoid overpaying for insurance policies.
Some of the best methods to reduce workers’ comp expenses include:
Utah workers’ comp rules operate under no-fault insurance policies, where insured parties are compensated for losses by insurance providers, regardless of what led to the accident, injury, or loss.
Also known as PIP or Personal Injury Protection, workers’ comp insurance in Utah covers medical expenses, loss of income, and funerary expenses for policyholders and beneficiaries.
After an accident at work, employees have 180 days to report it to an employer. From there, the employer has seven days to report to workers’ comp insurance carriers under Employer's First Report of Injury or Illness.
The insurance provider will open a claim for benefits within two weeks of a report. Employees will then receive an acceptance or denial within 21 days.
Workers' comp coverage also protects employers from legal action. This means that if an employee sues your business because of a workplace injury, the insurance will cover the legal costs of the case.
Businesses in Utah can get workers’ comp benefits through insurance carriers authorized by the Utah Insurance Department. There are many insurance carriers that sell insurance in Utah and you can get a few quotes to compare your options.
Businesses that can’t get insurance through an insurance company, either because they are in a high risk industry or have a bad claims history, can get insurance through the state fund. These policies are more expensive but with a good track record, you’ll usually be able to get insured by a typical company in a few years.
Very large, profitable companies can also purchase coverage from the Workers’ Compensation Fund of Utah, a state-owned insurer unique to coverage for Utah businesses.
If your business qualifies, you can apply to the Industrial Accidents Division to self-insure. This means your business would directly pay for workers’ compensation claims out of your pocket.
Utah workers’ compensation rules are strict, so employers charged with non-compliance face financial penalties starting at $1,000 per claim and rising from there.
Several claims of non-compliance could result in legal consequences, such as a legal injunction that would prevent the business from operating in Utah.
In severe cases, criminal charges could be filed for financial misdemeanors, and the company would lose legal protection. Loss of protection leaves businesses open to being sued by employees who have experienced injuries or illnesses while on the job.
Funeral or burial expenses are available up to $9,000.
Weekly compensation benefits for dependents are calculated as a percentage of the worker’s weekly wage. This may not exceed 12 years after the date of death.
Lump sum payments equivalent to two years of the worker’s weekly wage are also an option.
Utah workers’ comp rules follow two types of comp settlements.
Compromise settlements are used when there’s a dispute over benefits owed. Employers and employees reach a compromise of benefits to avoid risk, expense, and delays.
Commutation settlements are used when rights to benefits have been established, and both parties agree on benefits to be paid under the Utah Workers’ Compensation Act.
Both types of settlements require the Utah Labor Commission’s approval to ensure fairness and law compliance.
Start by filling out a short online form about your business. We’ll use that info to get you an estimated quote. Then, one of our experienced agents will contact you to review the quote and make sure you are getting the absolutely lowest rate possible for your business. Once the quote is finalized, you’re ready to buy the policy - often with coverage starting that day!
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