Normally no-you would have to check with the workers compensation board to be sure that in your case in particular it is not necessary though. You mentioned that there just the two sole officers and as long as there were no other employees-true employees and not the so called "subcontractors" you are probably ok. But check with the Indiana Workers Compensation Board to be sure. ...and if you're exempt, please consider carrying Comp anyway - exemption from the coverage requirement is not exemption from liability. Would your company survive if it has to pay claims, & one of you couldn't work? Would your working relationship survive? Plus, many states are "ladder states," meaning liability goes up the ladder until someone can pay, so your General Contractor may require you to have coverage even if the state says you can exercise an exemption. If you're the GC, get your subcontractors to get coverage or you should talk with your agent about covering them and reflecting the cost when you negotiate their fees.
By law, it's optional for sole proprietors. Reality can be different though. In the construction trades most general contractors will require any subs who are sole proprietors to have workmans comp. This is what their insurance companies require. If a sub doesn't have workmans comp the insurance company adds their wages to the gc's bill.
Yes, if you own a business, you can not collect workmans comp for yourself.
can a employer make the employee pay weekly for workmans comp or disability insurance
Workmans Compensation Insurance is a good way to get insurance coverage without emptying out your wallet. You can find more information about the rules and responsibilities and other information on this website: www.workmanscompinsurance.net/faq.html
yes, any business needs to have insurance ,if they have a employee on the books.
Workers compensation insurance is nothing more than "workers compensation insurance". Your question is similar to asking what type of auto liability insurance does a person who drives a car need. There is not "type of workmans com" insurance. Just ask your local insurance agent to help you obtain workers compensation insurance and he will give you a quote.
This is usually called "Workers' Compensation Insurance", or "Workers' Comp" / "Workmans Comp" for short.
The employer, the insurance company, your state board of insurance and your state's workers' compensation bureau are all good to contact about Work Comp insurance fraud.
In some states being a sole proprietor with no employees allows you a waiver for the state required workmans comp insurance. However, many large companies as well as state and federal projects will require WC insurance, regardless of the waiver status.
Genrally this means that there is one owner of a business. There are no partners, investors, etc.
if your employer doesn't have workers comp insurance then you sue the company directly. Find a good lawyer.
If you are the sole owner / employee of your s-corp, workers comp insurance is not required in CA, however some companies you do contract work for may require you to have wc insurance or some type of liability or health insurance.
what earnings must i report to workmans comp
Yes, Your Credit will be important in determining your risk factor for any commercial policy. You can still buy the coverage with poor credit but you pay a higher premium.
The NC Department of Insurance, 1201 Mail Service Center, Raleigh, NC 27699-1201 919-733-2032 or 800-54..., Fax 919-783-7467, www.doi.state.nc.us
Workmans comp. is A good idea for anyone who employs, another person for work, If someone gets hurt you do not want that expense just because you like short grass.,,, laws requiring you to buy insurance for workers varies from state to state.,,,,,,,,Jamison.
i lost a finger in 1983 do i get money for that
They only have to pay Workman's Comp on reported tips. If you did not report or claim your tips, then there is no proof of them and Workman's Comp doesn't have to pay anything.
It depends on your state, but remember that if you have employees, even if your state has an exemption you remain liable for your employees medical costs and more whether you have insurance or not.
Workmans' comp law does not require your employer pay health benefits beyond treatment of the injury. Your employment (e.g., union) contract may require continuation of benefits, however. And FMLA can quarantee 12 weeks of continued employer contribution. After that you must be offered COBRA continuation.
Your state law will determine how much liability the association is required to carry, depending on whether you are an employee or a contractor.
California requires WC for all employees of all employers.