Maine Workers Comp Insurance

With limited exceptions, every employer in Maine with one or more employee(s) is required by law to have a valid workers' compensation policy at all times. This "no fault" insurance not only provides injured workers with medical care and partial wage replacement, but also protects the policyholders from potentially damaging lawsuits. Although most companies in Maine purchase a traditional commercial insurance policy, there are alternative methods of coverage which include licensing as a self insurer, gaining membership in a self insurance group, or obtaining coverage in the Assigned Risk Pool.

ME Workers Comp Insurance Specific Regulations

• Maine requires coverage if you have one more employees working in Maine
• If you work for someone else you will not be covered by their insurance policy unless you are an employee. This requires independent contractors to have their own workman’s compensation insurance
• Maine offers both private insurance by any licensed carrier and a state fund if you are unable to secure coverage from a private insurance.
• In Maine sole proprietors and members of LLCs are excluded from coverage, but have the option to include yourself.
• Corporate officers are included in coverage, but have to option to opt out if you own 20% or more of the outstanding voting stock