Iowa Workers Comp Insurance

With limited exceptions, every employer in Iowa 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 IA 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.

IA Workers Comp Insurance Specific Regulations

• Any business that has employees working in Iowa is required to carry compensation insurance
• Iowa has both a private insurance market and an assigned risk pool to help businesses struggling to secure coverage
• Independent contractors do not require coverage
• Sole proprietor, partners, and members of LLCs are excluded from coverage provided they operate in a full-time capacity
• Corporate officers are included in Iowa’s coverage, but up to four officers may opt out by submitting a Rejection of Workers’ Compensation or Employer’s Liability Coverage form