Workers’ Compensation Insurance
Almost every business needs, and is required to have, workers’ compensation (WC) insurance. Most states (with a few important exceptions) essentially require employers to purchase a workers’ compensation insurance policy to handle their statutory obligations to workers who are injured or made ill due to a workplace exposure. We often have this question come up; should the company owners be included under the WC policy?
Reasons to add owners to WC policy
The benefits are the same for everyone covered under a commercial workers’ compensation policy, but officers many not have thought about these for themselves. Benefits include:
Reason not to add owners to WC policy
It may not make sense for every owner or officer to consider this; it should be reviewed and considered periodically. In most cases the cost may be too high for the business to consider. Call our office today. Let one of our workman's compensation insurance specialist’s help you determine if this is an effective risk transfer tool.
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