171. Do You Need Worker's Comp Insurance?

Spoiler alert: the answer is probably yes! Take a deep dive with me into the critical yet often overlooked requirement of Worker's Compensation Insurance for small business owners. Drawing from my firsthand experience, I underscore the severe financial risks and legal trouble you could face without this insurance. Even if you have a remote workforce or you're the only employee in your business, there are legal requirements you must meet. I provide a detailed overview to help you assess your workers' compensation insurance needs, select the right policy, and ensure compliance with state-specific regulations. This episode is a resource aimed at empowering you to proactively secure workers' compensation insurance to stay in compliance and safeguard your business's future!What you'll hear in this episode:[1:05] The importance of workers' compensation[3:20] A brief history of workers' compensation[5:35] Understanding the impacts today[8:30] Navigating workers' compensation for solopreneurs and small businesses[10:10] Steps to acquire workers' compensation insuranceListen to Similar Episodes:147. Navigating Wage and Hour Laws153. Small Business Strategies to Chart Your Path to Growth154. PEOs Unwrapped: BTS at People PrinciplesUse code BOSS50 for 50% off your HR audit with us peopleprinciples.co/hraudit* Connect with me on LinkedIn https://www.linkedin.com/in/jackiemkoch/* Find more information on my website peopleprinciples.co