While many may think of Mount Rushmore when they think of South Dakota, at EMPLOYERS we think of the business owners in cities such as Rapid City, Sioux Falls, and Huron. In such thriving communities, the growth of local business is part of the landscape of the state, shaping how industry and agriculture affect the state-wide economy. With the growth of local business, however, comes a growth in expectations, including the requirements for workers’ compensation insurance coverage.
South Dakota Workers’ Compensation Insurance Requirements
South Dakota law permits businesses to obtain workers’ compensation coverage by purchasing a policy from an insurance carrier. Employers that do not purchase a policy are required to prove that they are able to pay full benefits in the event of a work-related injury to an employee. Most South Dakota businesses choose to purchase a workers’ compensation policy rather than assume direct liability for workplace injuries.1
Benefits of Workers’ Compensation Insurance
It’s a good idea to have workers’ compensation insurance from a reputable carrier in order to provide protection for both your employees and your business in the event of a workplace accident or illness. When choosing a carrier, look for a carrier that offers value added services such as:
- Loss control support which includes online resources to help you reduce workplace injuries and illnesses which can improve productivity and long term profitability.
- Efficient claim handling to help provide prompt service to your injured workers while Claim Adjusters help you control your claim cost by working with the injured worker and physicians to help evaluate and administer the appropriate care.
- Fraud prevention resources can help mitigate workers’ compensation fraud and lower the cost of workers’ compensation insurance.
EMPLOYERS Workers’ Compensation Insurance
At EMPLOYERS we believe in providing cost-effective workers’ compensation insurance and services designed to fit the needs of South Dakota businesses. Contact us to get a quote from a local insurance agent today.
1 South Dakota Department of Labor and Regulation http://dlr.sd.gov/workers_compensation/publications/wclawguide_brochure.pdf