Each state sets its own requirements for workers’ compensation insurance coverage and policies. This is why it is so important to take a closer look at what your state may require and make sure you comply with all the latest regulations. Here, we’ll provide an overview of Florida’s workers’ compensation requirements and how they break down their mandates.
The state of Florida has regulations for this that are a bit more complex than some other states. They offer two essentially different ways to break down your requirements, based on company size and industry type.
One reason for this is the prominence of the agricultural industry in Florida, which is different from many other states in the country. Not only is it a huge industry in the state, but it is also, unlike other areas, highly seasonal.
Therefore, agricultural businesses that have 12 seasonal employees for 30 days or more, or those that have six regular employees during the year, must have workers’ compensation coverage.
Meanwhile, in the construction business, there is no minimum of employees. The mandate is that any employer in the construction industry must provide workers’ compensation insurance, with no exceptions.
Agriculture and construction are the two industries with their own rules. For all other companies in its myriad industries, the requirement or minimum is four or more employees.
Employees can work full or part time in all of the above cases. That’s to prevent employers from retaining more part-time employees simply to avoid insurance and other liabilities. Companies with corporate structures, board members, etc., may apply certain exemptions or exceptions, but those can be handled on a case-by-case basis.
Another factor to consider is when your policy may expire and, in turn, must be renewed. There is no strict mandate on what this date is in Florida. That said, for many businesses, the expiration date will be set for the end of the calendar year, December 31st. This is important to keep in mind when planning for the end of the year.
For any business owner or manager trying to properly maintain their coverage for this and all other types of insurance or business linkage, it is important to work with a local expert who can help guide you through the process. Always consult with a professional before handling any matter on your own, to ensure that you are completing all the necessary steps and doing it in the correct manner.