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Answered 2008-12-30 23:32:30

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.

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