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Workers' Compensation Insurance
Almost every state requires this policy for tech businesses that have employees.
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What does workers’ compensation insurance cover?

Workers’ compensation covers the cost of medical bills if an employee at your tech company is injured at work or develops an occupational illness. It also protects business owners from lawsuits over injuries and illnesses.

Workers’ compensation provides coverage for:

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Emergency response to work accidents
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Ongoing treatment for work injuries
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Wages lost during recovery
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Lawsuits blaming the employer for injury

Emergency response to work accidents

If an employee at your tech company is injured on the job, workers' comp can cover the cost of immediate medical expenses.

Example: An employee at an IT consulting firm trips in the office stairwell and suffers a concussion. The firm's workers' comp policy pays for the ambulance ride and emergency room visit.

Ongoing treatment for work injuries

Workers' compensation insurance can cover ongoing medical bills related to a work injury or occupational illness.

Example: A software developer at a small game company is diagnosed with carpal tunnel syndrome due to keyboard overuse. The company's workers' comp policy pays for long-term medication and physical therapy to resolve the issue.

Partial wages while an employee recovers

Sometimes a serious work-related injury or illness prevents an employee from doing their job. Workers' compensation insurance can pay the employee part of the wages they miss due to their inability to work.

Example: An employee at an IT staffing business trips at work and breaks her wrist. She misses three weeks of work while recovering. The business's workers' comp policy pays her part of the wages she lost during recovery.

Lawsuits blaming the employer for an injury

The employer's liability insurance included in most workers' comp policies protects the owners of tech businesses from lawsuits over work injuries or illnesses.

Example: A project manager trips on a broken front step at his IT company and breaks a leg. He files a lawsuit against the company, claiming it should have fixed the step months ago. The IT company's workers' comp policy pays the legal costs and settlement, as it includes employer's liability insurance.

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Workers’ compensation insurance does not cover:

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Employee discrimination lawsuits

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Client, customer, or visitor injuries
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Business property damage
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Employee grievances against board members

Employee discrimination lawsuits

Employment practices liability insurance (EPLI) covers costs when an employee alleges harassment, discrimination, wrongful termination, or another violation of worker rights.

Example: A female employee at an app development company is passed over for a promotion. She claims the company promoted a less experienced developer because of his gender, and sues the company. EPLI covers the company’s legal costs and any resulting settlement.

Client, customer, or visitor injuries

General liability insurance pays for medical expenses and legal costs if someone other than an employee suffers an injury at your workplace.

Example: A client visits the office of a digital marketing agency to meet the team. On her way in the door, she trips over a loose rug and sprains an ankle. The agency’s general liability policy would cover her medical expenses, and any legal costs if she decided to sue.

Business property damage

A business owner’s policy (BOP) includes commercial property insurance to protect a tech company’s building and its contents from damage or loss.

Example: A fire at an IT consulting company destroys office furniture and computers in one room. The company’s BOP covers the cost of replacing the destroyed property.

Employee grievances against board members

Directors and officers insurance (D&O) protects a tech company's board members and officers from employee lawsuits over grievances.

Example: The president of a software development company is fired by the company's board of directors. The president files a lawsuit against the board claiming he was fired because they didn't want to pay him stock options that were due to vest. The company's D&O insurance covers the legal costs and any resulting settlement.

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