Securing Workers Compensation Insurance in Rhode Island

17-Feb-2016 Geoffrey Gordon RI workers compensation;

Securing Workers Compensation Insurance in Rhode Island

Workers Compensation insurance is required in all 50 states for employees who could be hurt on the job. It is a form of no-fault insurance, meaning you don’t need to show that anyone was liable, or responsible, for the accident or injury. If it happens on the job, workers comp responds, and it includes both medical expenses as well as wage replacement.

Every state has different rates, rules and classifications, and the highly regulated nature of Workers Compensation can make securing coverage tedious due to bureaucratic inertia. But these steps will get you started in securing coverage as required under the law.

Here is a general outline of the pre-procedure for obtaining Workers Compensation for Massachusetts companies working in the state of Rhode Island.

The process starts with establishing the fact that you are a legitimate business. For Massachusetts businesses this means obtaining from the Commonwealth a Certificate of Good Standing FIRST. This confirms that you are up-to-date on your state taxes, including unemployment tax. You can obtain this online using your existing Massachusetts unemployment insurance identification number in the ID number field .

Once you have a Massachusetts Certificate of Good Standing you can apply to the Rhode Island Department of Revenue as a non-resident business operating in their state. You can begin at the State of Rhode Island Business regulation website, https://www.ri.gov/taxation/BAR/ or call 401-547-8700. The main objective is to get your unemployment Tax ID number.

Once you have an unemployment tax ID number for Rhode Island you can apply to the monopolistic Workers Compensation insurance company, Beacon Mutual.

Our office assists existing Gordon Atlantic Insurance customers who are entering Rhode Island by preparing and submitting the required documents. Knowing your projected payroll in Rhode Island is required to apply, and often this is a best guess when opening a new location. All payrolls are subject to audit after the first year, so more realistic projections avoid audit surprises at the end of the policy year...More about audits here.

In general, Rhode Island Workers Compensation rates are significantly higher than Massachusetts rates (which are consistently the lowest in New England). Ask us for a projection as you prepare to expand into the Ocean State.

If you do not have an agent licensed in Rhode Island, call 401-825-2667 or toll-free 888-886-4450, or visit https://www.beaconmutual.com/pages/Employers.aspx to submit directly.

If you hire only independent contractors in Rhode Island these contractors can opt out using the form DWC 11-IC which can be completed on-line here: https://dltweb.dlt.ri.gov/wc_ic_search/Pages/Modules/ICWaiver/IC/OnlineCertificatePrintingdoc.aspxhttps://wcompsys.dlt.ri.gov/Pages/Modules/ICWaiver/IC/OnlineCertificatePrintingdoc.aspx

Should you wish to discuss your particular scenario with a Gordon Atlantic insurance professional, call us toll free at (800) 649-3252. Prefer to type versus talk? Click below.