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Frequently Asked Questions: Business Insurance

Who is Required To Have Medical Malpractice Insurance?

Medical Malpractice Insurance may be required by your licensing authority. You should contact your licensing authority to determine if Medical Malpractice Insurance is mandatory and if certain minimum coverage is required.

Who has to have workers’ compensation insurance?

Any person or business that employs workers must purchase workers’ compensation insurance except (i) individuals employing people to do work on their own homes, (ii) non-profit corporations with no paid staff, and (iii) corporations in which each employee is an officer/director who owns at least 25% of the corporation and each has given up his/her right to workers’ compensation benefits in the state.

Can a company offer different coverage limits within the same category of healthcare provider?

No, due to the Division’s interpretation of the “take all comers” statute, every insurer that offers such coverage would also have to offer the same limits to each healthcare provider within the same category.

I am self-employed and was told by an insurance agent that I cannot get coverage for myself but many people won’t hire me unless I have coverage. What am I supposed to do?

Sole proprietors and partners in partnerships are able to buy workers’ compensation coverage for themselves as well as for their workers. It remains an option for sole proprietors to purchase (less expensive) workers’ compensation policies that will cover only their employees. Currently, those choosing to incorporate now have the option to waive all their rights to coverage under the workers’ compensation laws if they own 25% of the corporation.

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