Commercial Workers’ Compensation Insurance

Commercial Workers’ Compensation Insurance brokers and agents deliver simplicity for your business.

Commercial Workers' Compensation Insurance brokers and agents deliver simplicity for your business.
Business and commercial business insurance brokers and agents deliver simplicity for your Commercial Workers’ Compensation Insurance.
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Mandatory Coverage

Each state has its own set of requirements about  which employers are compelled to obtain workers’
compensation insurance. Varying factors are  generally the industry sector of the employer,  the minimum number of employees, length of  employment, and, in some cases, the familial relationship of the employee with the employer.  The minimum number of employees requiring provision of workers’ compensation coverage varies between one and five across the states. Some states exclude agricultural employers with less than a specified number of employees. Some states exclude self-employed workers while other states provide an option for their coverage. Some states exclude corporate officers in limited liability corporations without other employees. Other states have specific workers’ compensation rules for industry sectors such as mining and construction. The employment relationships of employers with employees versus contractors are clearly defined in many states.

Workers’ Compensation Insurance Benefits

Payments for workers’ compensation claims can be for employee medical treatment, loss of wages
(indemnity), vocational rehabilitation, permanent disability, and death. The rules for the level of payment vary tremendously among the states with a few exceptions.

Insurance providers employ a range of specialists such as actuaries, adjusters, underwriters, claims administrators and loss control consultants (see glossary). Brokers directly market insurance policies to employers and they may offer policies from a single insurance carrier or multiple competing carriers. Many private insurance providers specialize in specific industry sectors in which they are most familiar with risks. Large national carriers offer insurance across diverse sectors but may still focus on certain industries. Many private insurance providers also offer other lines of coverage beyond workers’ compensation, such as property and liability.
Workers Compensation Acronyms and Abbreviations

AASCIF – American Association of State Compensation Insurance Funds
ACORD – Association for Cooperative Operations Research and Development
ACS – American Community Survey
AIA – American Insurance Association
CBP – County Business Patterns
CDC – Centers for Disease Control and Prevention
CES – Current Employment Statistics
CFOI – Census of Fatal Occupational Injuries
CFR – Code of Federal Regulations
CPS – Current Population Survey
DHHS – Department of Health and Human Services
EDI – Electronic Data Interchange
FEIN – Federal Employer Identification Number
FROI – First Report of Injury
FTE – Full-time Equivalent
HIPAA – Health Insurance Portability and Accountability Act
IAIABC – International Association of Industrial Accident Boards and Commissions
ICD – International Classification of Disease
IRS – Internal Revenue Service
MSHA – Mine Safety and Health Administration
NAICS – North American Industry Classification System
NASI – National Academy of Social Insurance
NAIC – National Association of Insurance Commissioners
NCOIL – National Conference of Insurance Legislators
NCCI – National Council on Compensation Insurance
NIOSH – National Institute for Occupational Safety and Health
OES – Occupational Employment Statistics
OIICS – Occupational Injury and Illness Classification System
OSHA – Occupational Safety and Health Administration
PCIAA – Property and Casualty Insurers Association of America
PEO – Professional Employment Organizations
QCEW – Quarterly Census of Employment and Wages
SDS – Supplementary Data System
SIC – Standard Industrial Classification System
SOC – Standard Occupational Classification System
SOII – Survey of Occupational Injuries and Illnesses
TPA – Third-party Administrator
WCIO – Workers’ Compensation Insurance Organizations
WCRI – Workers’ Compensation Research Institute