Workers Comp Insurance in Orange County

Workers Comp Insurance in Orange County

Worker’s compensation is an essential component of the business world. By stipulating that businesses insure their employees against accidents or illnesses caused at work or during work, several states like California take care of the interests of their workforce. Workers comp insurance in orange county is governed by the same rules that are applicable throughout the state of California. Let’s review some of them.

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Have one employee?
First of all, let’s see if your business needs workers comp insurance? Do you run a business in OC? Then look for good Workers comp insurance in orange county pronto! Because California law requires that even if you have one employee, you will need workers comp insurance. Also, if your business is based outside California, but you employ people in the state, you will need to cover them with workers compensation insurance. Do remember that Workers comp insurance in orange county is required even in case of temporary employment. However, if you and a partner are sole owners of the business, the insurance is optional.

Coverage Information
As per California law, workers comp insurance in orange county is required to cover even the top honchos of the business as well, including directors, executives and other corporate heads. However, before getting insurance, be sure to check with a lawyer or a broker for more information pertaining to your specific business. While laws have stipulations, sometimes, depending on the nature of the business, insurance requirements may vary slightly.

Obtaining the right insurance
To get workers comp insurance in orange county, you can approach a licensed insurer in the state of California. An important fact to verify is if the insurer is authorized to provide policies in the Orange County, your place of business. Remember, if you don’t get cover from the right insurer, in case of any disability or insurance is caused at work, this could lead to litigation or a lot of expense. You can choose to self-insure. However, self-insurance will have to approved by the State. To qualify for self-insurance you will have to post security, make over $500,000 annually and also have a net worth of $5 million. This, of course, makes it very hard for small businesses. However, if you can check that other small businesses in Orange County can join you and get joined workers comp insurance in orange county, you make be collectively eligible for self-insurance.

For more information on works comp insurance, contact a lawyer, an insurance service provider, a broker or the Division of Worker’s Compensation of the State of California.

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