How Do You Obtain Workers Compensation Insurance?
Federal workers’ compensation laws apply only to federal workers. The individual states dictate the workers compensation laws for their employers. All states, however, mandate that employers obtain insurance to cover their employees for on the job injuries. The laws, the costs and the penalties for not having workers’ compensation vary widely from state to state. No employer in any state should operate without workers’ compensation insurance. Consult the government website for your state to learn the specific requirements for workers’ compensation insurance in your locality. Understand that in most states, employers obtain workers’ compensation insurance from private providers just like they purchase other forms of employee insurance. Work with a consultant to find the best workers’ compensation package for your company. Put your workers’ compensation coverage out to bids amongst several private insurers. Prepare a package of information for potential providers to use when preparing a
