How Do I Get Workers’ Compensation Insurance?
You can get workers’ compensation coverage in one of two ways:
Many employers purchase insurance from an insurance carrier just like they would buy auto insurance and other liability insurance. When buying insurance in the insurance market, most employers buy a policy from an insurance agent who writes the policy through an insurance company the agent represents.
For some employers, the option of self-insuring their workers’ compensation obligations is available. There are two kinds of self-insurance, individual and pooled.
|For an individual employer to become self-insured in Colorado, the employer must meet the following requirements:|
|Been in business for at least 5 years or be a subsidiary of a company that has been in business for at least 5 years||
|Have at least 300 full-time employees working in Colorado|
|Have, or have a parent company with, assets of at least $100 million|
All employers wishing to become self-insured must have an exemplary financial position and provide the following:
- Excess insurance coverage
- Security such as a surety bond
- Claims adjusting either internally or through use of a third-party administrator
If your company is interested in becoming individually self-insured, please contact the Division of Workers’ Compensation at 303-318-8700 or toll-free at 1-888-390-7936.
If your business does not meet the requirements to be individually self-insured but is interested in joining or forming a self-insurance pool, please contact the Division of Insurance in the Department of Regulatory Agencies at 303-894-7499 or toll-free at 1-800-930-3745.
Workers’ Compensation Compliance Verification
If you would like to see whether a company has workers’ compensation insurance coverage, you can go to our online database at https://www.ewccv.com/cvs/.
To see if a company has rejected coverage, please see our real-time Rejection of Coverage database at https://dowc.cdle.state.co.us/WCCompliance.