Colorado Workers Comp Insurance

With limited exceptions, every employer in Colorado 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 Colorado 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.

CO Workers Comp Insurance Specific Regulations

• If you have any employees in Colorado you must have coverage
• 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
• Colorado has a private market and Colorado’s Pinnacol Assurance in order to help businesses that are struggling to secure insurance
• Sole proprietors in Colorado are excluded from coverage, but have the option to opt in
• Corporate officers and members of LLCs are included in coverage, but can opt out if they have at least 10% ownership