Small Business Coverage and Peace of Mind
Nestled between the Missouri and Mississippi rivers, Iowa is number one in the nation when it comes to presidential primaries. The rolling hills of Hawkeye state have also produced numerous entertainment superstars including John Wayne, Johnny Carson, and Glenn Miller. Authors come from across the nation to attend the Iowa Writers’ Workshop whose graduates include, among others, Kurt Vonnegut, John Irving, and Jane Smiley.
Iowans like to joke that pigs outnumber people in the state by about four to one and Iowa is definitely America’s breadbasket—and delicatessen. But the Iowa economy is much more than agriculture. The state’s diverse economy includes manufacturing, biotechnology, finance, and insurance. In 2010, Iowa was named the sixth best state in CNBC’s list of Top States for Business. Small businesses play an important role in Iowa’s economy, representing over 97 percent of all employers in the state. More than 51 percent of Iowans, around 644,000 workers earn paychecks from private-sector employers.1 Like every other U.S. state and territory, Iowa requires employers to carry workers compensation insurance.2 Workers’ compensation provides benefits to employees injured as a result of their employment. It also limits the liability of employers. Because it is a no-fault system, employees do not need to prove negligence on the part of the employer, and employers do not need to show the employee was at fault to prevent a claim. Workers’ compensation provides four main benefits: wage loss, medical benefits, compensation due to permanent physical injuries, and vocational rehabilitation services.
In Iowa, “injury” is defined very broadly to include any health impairment caused by employment activities, including some diseases and hearing loss. Employees are not entitled to workers’ compensation for preexisting injuries unless they are worsened by employment.3 That’s why so many small firms in Iowa, including auto repair shops, restaurants, hotels, grocery stores, machine shops, and hardware stores, are leading purchasers of workers’ compensation insurance. EMPLOYERS has been at the heart of Iowa’s small business community for years and aims to grow with Iowa’s small business sector for many years to come.
Iowa Workmans’ Comp Coverage You Need
Interested in learning more about how EMPLOYERS can help your Iowa business? Request a quote for workers’ compensation insurance from EMPLOYERS!
Thousands of small businesses trust EMPLOYERS for providing cost-effective workers’ compensation insurance for over a century. With our competitive pricing, financial stability and dependability, claims service, safety training and loss control programs, EMPLOYERS remains focused on keeping America’s small businesses not only working, but working safely.
1. “Small Business profile, Iowa” SBA Office of Advocacy, February, 2013. www.sba.gov/sites/default/files/ia12.pdf
2. “Compliance Duties – Division of Workers’ Compensation,” Compliance Duties – Division of Workers’ Compensation, August 26, 2014. http://www.iowaworkforce.org/wc/compliance/complianceduties.htm.
3. “Frequently Asked Questions,” Iowa Work Force, 2014. www.iowaworkforce.org/wc/faq.htm.
In Iowa, insurance is offered through Employers Compensation Insurance Company, Employers Assurance Company and Employers Preferred Insurance Company. Not all insurers do business in all jurisdictions.