Who Needs Workers Comp Insurance

Workers’ compensation (often shortened to “comp”) insurance helps your employees and protects your business should a tragedy occur, such as a work-related injury, illness or even death.

While workers’ comp laws differ from state to state, you are typically required to have a policy active as soon as you hire your first employee. Even when not mandated, a workers’ comp policy is important.

Why you need it. Workers’ comp insurance will protect your business if anyone on your staff (including yourself) needs medical care or time off due to a workplace injury; it can also provide coverage if an injured or ill employee sues you.

What happens if you don’t have it. Your business will be responsible for any medical bills and legal fees associated with an employee injury or illness that occurs on the job if you don’t carry workers’ comp insurance. Most states will also charge costly penalties if you don’t comply.

The cost of workers’ comp insurance is based on a number of factors, including your location, your payroll expenses and your industry risk factors.

If you’d like to schedule some time with us to review your workers’ comp insurance needs or policies, please call or email us today.

Fast-forward to today, and Rapid Radicals Technology LLC, founded by Peters, is one of the most promising startups in the environmental sector. The company aims to help with the cleanup and recovery process in the aftermath of sewage overflows, floods and storms by replacing water treatment infrastructure with her revolutionary new process.

Her system is now in testing on a huge shipping container in Lake Michigan. Under current technology, the treatment of sewage usually takes between eight and 14 hours. Peters’s process is a staggering 16 times faster, rapidly cleaning sewage and turning it into pure, drinkable water in half an hour.

The company was able to get this far thanks to grants from a scientific community that recognized the incredible potential of her innovation. She won a $50,000 grant from Marquette’s Enterprise Seed Fund shortly after launch and has since raised somewhere around $1.4 million, including a sizable chunk from the National Science Foundation’s Small Business Innovation Research fund.

Her lack of expertise in business has clearly not held her back at all, even though it almost made her choose the wrong name for the company. Originally, she planned to name it Radical Waters until her late comical realization that it sounded like a water park. Thankfully, she came around before it was too late and appears set to become an important name in the history of green technology.