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."