Workers’ Compensation Insurance Solutions
We can help you lower the cost of managing your employment risk.
An employer will purchase workers’ compensation insurance to cover their company in the event an employee is injured on the worksite. Each state has different workers’ compensation laws, however, so be sure to check out your local coverage requirements.
Who Needs Workers’ Comp Coverage?
In Florida, the Workers’ Comp coverage you need for your company is going to be based upon your:
- Business industry
- Number of employees
- Type of entity
Construction Industry Workers’ Compensation
The Florida Division of Workers’ Comp explains that businesses in the construction industry with one or more employees, including the owners who are corporate officers or Limited Liability Company members, will need coverage. Contractor’s are also responsible for making sure any subcontractors they use are insured with workers’ compensation before they begin a job.
Non-Construction Related Business Workers’ Compensation
Non-construction related businesses with 4 or more employees, including business owners who are corporate officers or Limited Liability Company members will need to provide coverage as well.
If business owners in Florida would like to opt out of getting coverage for themselves, they can check if they qualify to file for a workers’ comp exemption here.
How do I get workers’ comp insurance for my business?
Businesses that require coverage will have several options on how to obtain it. A workers’ comp insurance policy can be secured from an insurance office, through the state funded program or through a PEO or Professional Employer Organization.
However, new small businesses can sometimes find it difficult to obtain their own affordable workers’ comp policy on the standard market. That is where a PEO comes in.
A PEO can help a small business by taking on their workers’ comp risk and adding them to their master policy. They also can help to create safety manuals and employee handbooks to mitigate risk in advance.