Get Better Quotes 35+
Real Experts- Trusted
It is very important for all employers to know the correct rules and regulations regarding Workers' Compensation Insurance in the state of Iowa. All employers are required to carry coverage, yet many do not know what it covers and how it protects their business. Here we have broken down this coverage in to several topics specific to Iowa.
We do this to help business owners understand workers compensation insurance and arm them with the knowledge to get the best value for their business needs.
Call today at 888-611-7467 for a free no obligation quote.
No current rule changes or laws in Iowa.
No current state orders.
1000 East Grand AvenueDes Moines, IA 50319800-562-4692
What is Workers' Compensation?
The basic purpose of the Workers’ Compensation is to provide wage replacement benefits and medical treatment for employees who have been injured or become ill due to a work-related injury or illness. It prevents the employer from bearing the costs of injuries that occur during normal business operations.
How does workers comp help my business?
Your business benefits by not being liable for injuries that occur as a part of normal business operations. This applies whether the injury was the fault of the business or was caused by negligent actions of the employee.
How does workers comp help my employee?
Employees benefit from workers comp coverage by having lost wages covered while they are hurt or sick and not able to work. It also pays for medical costs they might incur as a result of the sickness or injury.
IWD is the state agency working to help improve all aspects of Iowa's workforce. The IWD’s guiding principles are intended to demonstrate a commitment to the state of Iowa, its customers, and its employees.
The state of Iowa uses the National Council on Compensation Insurance (NCCI) to determine rates on insurance class codes. NCCI gathers data, analyzes industry trends, and prepares objective insurance rate and loss cost recommendations. Insurance carriers are able to offer discounts to these recommended rates. It is recommended that employers shop their policy with as many carriers as possible in order to get the best rates for their coverage.
We're always working with our insurance carriers to develop specialized programs for a broad range of industry class codes.
Target Programs are designed to streamline the underwriting process and help
ensure we offer the lowest rates available anywhere.
Iowa is an NCCI State
The Iowa Division of Workers Compensation oversees insurance in the state. Still, Iowa is under the jurisdiction of National Council on Compensation Insurance (NCCI). This means the NCCI collects statistical data, files annual workers comp rates, produces experience mod's, and is the Plan Administrator for the Iowa State Fund.
Employers who are unable to find a voluntary workers compensation insurance quote from a private insurance company may apply for State Fund policy through an agency appointed with NCCI. Workers Compensation Shop.com is one of these agencies.
Let Workers Compensation Shop.com help your business navigate workers comp insurance in Iowa.
Employers liability insurance is an additional layer of coverage included as part of a workers' compensation insurance policy. Employers Liability is know as Part 2 of the policy. It adds two additional coverages for employers:
Employers Legal Liability and Legal Defense Costs
In todays world, there are a variety of reasons employees and third-parties sue employers for damages. Here a some common types covered by employers liability insurance:
Third Party Lawsuits
Your employee sues another party that may have contributed to the injury, In turn, the third party sues your business.
Consequential Bodily Injury
Another party or individual is injured while providing care for the injured employee.
Dual Capacity Legal Action
An employee files a claim but also attempts to sue the employer for being responsible in other ways outside of the employment relationship.
Loss of Consortium
A spouse sues for damages caused by the loss of companionship or relations.
Employers Liability coverage is not included with coverage in the four monopolistic states. Employers in these states can endorse this coverage onto their General Liability policy. That coverage is commonly know as Stop Gap Coverage.
Get more information about workers' compensation in Iowa:
Workers Compensation Info
Workers Comp Programs
National Broker Services