small business owner and injury and illness prevention programs

Three Reasons Why You Need Workers’ Compensation Insurance

At the beginning of the last century, individual U.S. states began implementing workers’ compensation laws requiring companies to provide wage replacement payments, medical expense reimbursements and other benefits to employees who suffer a work-related injury or illness. Although today specific requirements vary by state, most businesses with more than one employee are required by law to provide workers’ compensation benefits.

Having proper workers’ compensation coverage is more than just a cost of doing business. When considered as part of a comprehensive workplace safety program, it is a strategic investment in a business’ most important asset – its employees.

Here are three reasons why it is important for your business to have workers’ compensation insurance:

Having proper workers’ compensation insurance coverage is a smart investment that protects your business and employees. Contact your local agent or carrier for more information and guidance on what you need to know to make sure your business is properly covered.


1. Workers’ Compensation Insurance, NAIC

2. Jones, Stephanie. “Oklahoma’s Workers’ Comp Opt-Out act Ruled Unconstitutional.” Insurance Journal.

3. Employer-Reported Workplace Injury and Illness Summary, Bureau of Labor Statistics