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Arkansas Workers' Compensation Insurance
Protect your business and employees with Arkansas workers' comp
Arkansas workers' compensation insurance provides financial and medical support to employees after a workplace accident. From Little Rock to the scenic Ozark Mountains, this coverage helps you meet state regulations and encourages a safer work environment.
Get an online quote or connect with a Progressive Commercial agent for additional information on workers' comp in Arkansas.
Who needs workers' compensation insurance in Arkansas?
Businesses in Arkansas with three or more employees must have workers' comp insurance. But keep in mind, there are some exceptions. Even if you have fewer than three employees, it's a good idea to check to see if you still need workers' compensation.
You can review Arkansas workers' compensation laws to learn more.
Arkansas workers' compensation insurance exemptions
Arkansas workers' comp exemptions apply to certain jobs, such as:
- Farm workers
- Household help
- Employees of nonprofit, religious, charitable, or relief organizations
- Workers covered exclusively by federal law
Even if you're exempt, having workers' compensation coverage in Arkansas protects your employees and may prevent legal issues. You might also need it for certain professional licenses and contracts.
What are the penalties for not having workers' comp in Arkansas?
In Arkansas, employers without workers' compensation insurance can be fined up to $10,000 or even face felony charges. Securing coverage ensures you meet legal requirements and helps you avoid these risks.
Review the penalties for not having Arkansas workers' comp.
How much does workers' comp cost in Arkansas?
Arkansas workers' compensation rates depend on things like:
- Job classification code: Arkansas uses class codes from the National Council on Compensation Insurance (NCCI) to categorize jobs by risk and set rates.
- Payroll: Workers' comp premiums are based on every $100 of payroll. Premiums rise as payroll size increases.
- Claims history: Having more claims in your history impacts coverage costs, leading to higher insurance rates.
- Insurance carrier: Workers' compensation prices can vary since each insurer assesses risk and sets premiums differently.
How can you get workers' comp in Arkansas?
There are three ways you can get workers' compensation insurance in Arkansas:
- Private insurers: Many Arkansas businesses choose to get workers' comp from private insurers because of the flexible coverage and additional benefits they can provide.
- Self-insurance: Companies can apply for self-insurance, which may lower costs by allowing them to cover claims with their own funds. By opting for self-insurance, employers are responsible for managing financial risks themselves.
- Assigned risk pool: Businesses that are new, risky, or have numerous claims may find it difficult to secure private coverage or self-insurance. These organizations can get Arkansas workers' compensation insurance through the NCCI.
Review these options and find the right policy for your team. Start an online quote today.
How does workers' comp work in Arkansas?
Workers' compensation insurance assists people who experience job-related injuries or illnesses. After an incident is reported, a claim can be filed by either the employee or employer. If approved, the employee receives financial aid.
Arkansas workers' compensation benefits can cover:
- Medical expenses
- Lost wages
- Disability benefits
- Rehabilitation costs
Workers' comp also protects businesses by reducing the likelihood of lawsuits. Employees who accept Arkansas workers' compensation settlements typically can't sue, but if they do, this insurance helps cover costs.
Arkansas workers' compensation death benefits
Arkansas workers' compensation death benefits support families of deceased employees by covering expenses and providing financial stability. Dependents can receive:
- A lump-sum payment of up to $6,000 for funeral expenses
- Weekly payments based on a percentage of the employee's average wage and number of dependents
Arkansas workers' compensation statute of limitations
According to the Arkansas statute of limitations, employees have two years from the date of injury to file a claim. Encourage your team to report incidents quickly to meet deadlines and access benefits.
Why choose Progressive Commercial for Arkansas workers' comp
For over 50 years, Progressive Commercial has been a reliable partner for businesses like yours, offering friendly service, competitive prices, and expert guidance.
Talk to an agent or start an online quote today to find workers' compensation insurance.
