Workers’ compensation insurance not only helps employers cover costs related to employees becoming ill or getting injured on the job, it’s also required in nearly every state.
Yet, some employers have a harder time securing coverage than others.
After all, a range of factors (e.g., a poor loss history or involvement in a high-risk industry) can make insurers hesitant to offer workers’ compensation insurance to certain employers. In these instances, employers can utilize assigned risk plans. Such plans provide a safety net for employers who are unable to acquire workers’ compensation coverage from insurers in a standard market.