Is my business in Summerville SC required to have workers compensation insurance?
South Carolina Code of Laws states that businesses with more than three (3) employees must have a workers compensation policy in effect.
However, even if a business is not required to have a workers compensation policy, the employer is still responsible for any work related injuries to an employee.
Am I, the business owner, covered by my workers compensation policy?
That depends on the type of the business you have.
For a sole proprietorship, the owner is automatically excluded. If the owner wants to be covered, he/she must make a request in writing.
For a partnership, the partners are automatically excluded. If a partner wants to be covered, he/she must make a request in writing.
For an LLC, the members are automatically excluded. If a member wants to be covered, he/she must make a request in writing.
For a corporation, the officers are automatically included. If an officer does not want to be covered, he/she may complete and sign an Officer Notice To Reject document.
As always, you should discuss such matters with a licensed independent insurance agent.
For further questions call a C. T. Lowndes & Company agent.