Louisiana Workers Comp Insurance

With limited exceptions, every employer in Louisiana 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 Louisiana 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.

LA Workers Comp Insurance Specific Regulations

• Having any employees working in Louisiana requires a business to 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
• Louisiana has both a private insurance market and a state fund that competes with the private market.
• Louisiana also offers an assigned risk pool which will help businesses that are struggling to secure coverage
• Real Estate agents are exempt from requiring coverage
• Sole Proprietors or partners are included in coverage, but have the option to opt out
• Corporate officers are included in the coverage, but have the option to opt out
• Members of LLCs in Louisiana are included in coverage, but have the ability to opt out so long as the member owns at least 10% of the company