Workers' Compensation
A Workers’ Compensation policy covers the employer’s statutory obligations to their employees. This means the employee will receive benefits as outlined in the individual state laws granting coverage for medical expenses and lost wages. Every individual state has active Workers’ Compensation laws.
- Missouri law requires any employer with five or more employees to carry Workers’ Compensation.
- Exempt employers who decide not to purchase workers’ compensation insurance or to self-insure remain exposed to civil lawsuits brought by employees who are injured on the job.
- In Missouri, a Workers’ Compensation policy is based on the combined salary of an owner and their employees.
- When figuring an Owner’s annual salary, $52,900 is used.
- For Example: John Smith, Owner $52,900 + Employees of Dr. Smith $80,000 = Total Office Payroll $132,900
For more information regarding any coverages listed on this site, email or call 800-944-7550. This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice to your situation. Request of a quote for coverage does not guarantee that coverage can be provided. Any misstatements or omissions of relevant information from a client can result in a price variation or even declination or rescission of coverage.
