Oklahoma Workers Comp Insurance

With limited exceptions, every employer in Oklahoma 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 OK 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.

OK Workers Comp Insurance Specific Regulations

• Employees working in Oklahoma are required to be covered by workers’ compensation
• 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
• Oklahoma has a private market and a state fund to help those who struggle to secure insurance
• Corporate officers or members of LLCs are excluded from coverage who own 10% or more of stock
• Having five or fewer family members employees exempts a company from required coverage