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What Is a Monopolistic State?
Every state can have different workers’ compensation (WC) requirements. Monopolistic states require employers to purchase state fund workers' comp coverage. In these states, buying workers’ compensation from private insurers is not allowed. The four monopolistic states that require coverage from their workers’ comp state fund are:
Puerto Rico and the U.S. Virgin Islands also have a state fund that employers must get workers’ compensation from. Other states are considered competitive workers’ compensation insurance states and allow businesses to select between getting private insurance or using the state fund. Remember, workers’ compensation coverage is important for providing benefits to injured workers. If your state has a competitive state fund, obtener una cotización hoy mismo.
What States Are Considered Monopolistic for Workers’ Comp?
Wondering which states are considered monopolistic states for WC? North Dakota, Ohio, Washington and Wyoming are referred to as the four monopolistic workers’ comp states. You can read more about workers’ compensation laws for these states in the sections below:
Coverage in Ohio
If you need Ohio workers’ compensation, you can purchase it from the Ohio Bureau of Workers’ Compensation. You’ll need to fill out the U-3 Form and pay a $120 minimum, non-refundable application fee. The National Council on Compensation Insurance (NCCI) governs the classification codes for Ohio.1 These codes help determine how much risk your employees face on the job and therefore impact your workers’ compensation costs. You can look up codes by using their “class look-up” tool.
Coverage in Wyoming
To get Wyoming workers’ compensation, you’ll need to get it from the state’s insurance fund, which is governed by the Wyoming Department of Workforce Services. For questions about workers’ compensation, call the Department of Workforce Services at 307-777-5476. Wyoming also uses the North American Industry Classification System (NAICS) for their workers’ comp class codes.2 You can find these class codes on the NAICS website.
Coverage in Washington State
You can get Washington workers’ compensation coverage from The Washington State Department of Labor & Industries. To open a workers’ compensation account, visit the Department of Labor and Industries website. It’s also important to note that the state of Washington developed its own risk classification system that’s tailored to the state’s businesses and industries.3
Coverage in North Dakota
If you need North Dakota workers’ compensation coverage, you can get it from the North Dakota Workforce Safety & Insurance. To purchase workers’ compensation insurance in the state, you’ll need to fill out an application. North Dakota has its own workers’ comp classification system separate from the National Council on Compensation (NCCI).4 Learn more by reading through the Workforce Safety & Insurance’s classification manual.
Monopolistic vs. Competitive Funds
If your state has a monopolistic state fund, you’ll need to buy workers’ compensation insurance through the state fund. However, if your state has a competitive state fund, you’ll have the option to choose workers’ comp coverage from your state or another private insurance carrier. One of the benefits of a competitive state fund is that you can shop around for the best insurance quote. You can also more easily choose coverage that fits your business’ needs better than in monopolistic programs.
If you’re in a competitive state, learn more about workers’ compensation coverage available to you by getting a quote today. You can also find more information on our All States Workers’ Compensation página.
Stop Gap Coverages
Workers’ compensation in monopolistic states doesn’t include employer’s liability insurance. This means you’ll likely need to add it to your general liability insurance policy. This coverage is also known as “stop gap coverage.”
If you’re in a competitive state, the best way to find the right business insurance is to get multiple quotes from different insurance companies. Decide what fits your business best and compare the quotes to determine the best value. Reciba una cotización today to get started. We can help you get all the commercial insurance you need from workers’ compensation insurance to employer’s liability coverage.
1 Class Codes, “Ohio Work Comp Class Codes”
2 Class Codes, “Wyoming Work Comp Class Codes”
3 Washington State Department of Labor & Industries, “Risk Classes for Workers’ Compensation”
4 Class Codes, “ND Work Comp Class Codes”