Worker’s Compensation Insurance
As the only state that doesn’t require Worker’s Compensation insurance to be carried by employers, Texas employers run a great risk of extreme financial loss and business closings if an employee (including those paid via 1099) is injured on killed while on the job. Most employers wrongly assume that anyone paid as ’1099′ labor is a subcontractor and doesn’t need to be covered by worker’s compensation – but this is incorrect. Paying an employee on a 1099 schedule simply identifies to the IRS who is responsible for paying employer taxes – it has nothing to do with the actual employment status of a worker. Under Department of Labor rules, anyone may be considered an employee so long as you, the employer, have direct supervisory control and authority over the worker and the work performed, regardless of whether the employee is paid via a W-2 or 1099.
We understand worker’s compensation, as well as non-subscription coverage, and we know how difficult it can be to find and afford, especially for smaller businesses such as artisan contractors, when there has been no prior insurance in place.
We have multiple carriers that we work with in order to find the best rates available for you and your business. This includes coverage for standard as well as high-risk exposures. In addition, we have specialty programs for those business which have no prior insurance, no account credits, and/or which expect to have less than $5,000 per year in annualized worker’s compensation premiums.
Call us today in order to discuss your business needs and to learn how affordable worker’s compensation coverage can really be!