What is workers compensation insurance and where do I get it?
( Top ) Workers compensation insurance provides compensation to employees who have a work-related injury or disease. Generally, all employers are required to carry workers compensation insurance. The Minnesota Department of Labor and Industry offers information regarding the rules and requirements in providing workers’ compensation insurance. In Minnesota, workers compensation insurance is sold through open competition, which means insurance companies establish rates and compete for business. There are several thousand insurance agents in Minnesota who are licensed to sell workers compensation insurance. All workers compensation insurance policies provide coverage mandated by law; only the price and quality of service varies. Shopping for insurance can save money. Other factors to consider in choosing a carrier are claims servicing, safety counseling and the carrier’s reputation. Employers who are unable to obtain workers’ compensation insurance on the open market because of their size
