Minnesota Workers Comp Insurance

With limited exceptions, every employer in Minnesota 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 MN 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.

MN Workers Comp Insurance Specific Regulations

• Any business that has any employees working in Minnesota 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
• Minnesota has a private market for insurance and also offers an assigned risk pool to help businesses that are struggling to secure insurance
• In Minnesota sole proprietors and immediate family members can choose to opt out
• Partners in Minnesota are excluded from coverage but have the option to opt in if the partners are immediate family
• LLCs and corporate officers are exempt from coverage all but have the option to opt in