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  • A Quick-Start Guide to Workers’ Compensation

    Game Plan

    In-Depth

    Where to Purchase Workers’ Compensation Insurance

    Workers’ comp insurance policies are purchased through a private commercial carrier—that is, an insurance company. These are usually the same companies that offer other types of business insurance.

    On occasion, an employer may be deemed an excessive risk by insurance companies and fail to qualify for workers’ comp insurance. For these cases, some states have established their own assigned-risk workers' compensation insurance programs, setting up a special fund that essentially serves as a “worker’s comp insurer of last resort” for companies who can’t get insurance on their own.

    Generally, a state governing board will oversee public/private combinations of workers compensation systems. These boards go by several names, such as "quasi-judicial agencies" or "workers' compensation commissions."

    Game PlanGame Plan

    Game Plan

    • A good first step in obtaining worker’s comp insurance is to call your business insurance company or insurance professional. It’s likely that your current carrier offers this type of insurance. If your company is turned down by insurance companies, contact your state’s labor board or workers’ compensation authority to see if it offers an assigned-risk program.
    • If you want to do your own research, a helpful online resource is the National Council on Compensation Insurance (NCCI), an independent advisory organization that provides information, education and best practices on workers’ comp insurance issues.