Florida Workers Comp Insurance

With limited exceptions, every employer in Florida 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 FL 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.

FL Workers Comp Insurance Specific Regulations

• • Florida requires companies to carry insurance if you have at least four employees working in Florida
  • Those working in the construction industry and have at least one employee 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
  • Florida has government regulated insurance, with rates set by the state, though you can purchase the insurance from private companies.
  • There is also the Florida workers’ Compensation Joint Underwriting association for those struggling to secure insurance
  • Sole Proprietors and partners in Florida are excluded from coverage, but have the option to opt in. Construction industry workers must be covered by workers’ compensation insurance
  • In Florida corporate officers and members of LLCs are included in coverage, but have the option to opt in
  • In Florida corporate officers and members of the construction industry have the option to have three officers opt out of coverage as long as each of them own at least 10% of the business