Workers’ Compensation in Arkansas

Business owners who hire at least three employees are required by the Arkansas’ law to provide a Workers’ Compensation insurance for their employees. Exceptions may apply to some employees like those who work in the farm, real estate, domestic, and non-profit organizations. There are also individuals who are not required to have a workmen’s comp insurance but can choose to buy one voluntarily, like the sole traders and self-employed employees.

Employers with less than three employees are not automatically exempted. They must contact their insurance agents or inquire the Operations/Compliance Division of the Commission’s Information Officer, or the Legal Advisor Division to confirm if they fall under the exceptions of the law.

Employers’ Requirements

Like in most states in the U.S., Arkansas also requires that no employee who are eligible for a workman’s compensation insurance must shoulder the payment for their coverage, either partial or full. Employers are expected to take full responsibility of purchasing the workers comp policy for their employees. The indemnity must be purchased from state-approved workers’ comp companies or if the employer received an authorization to be self-insured.

Huge companies who are capable of paying the bill for their employee’s workers comp benefits and would want to be in control of processing the claims can apply to be a self-funded or self-insured employer. They usually take this financial decision to potentially cut the cost of paying excessively to an insurance company.

If the employer fails to abide in the laws of the state, the company will be charged of penalties. Worse is, they may lose their protection provided by the Arkansas Workers’ Compensation Act.

In Arkansas, there are specific forms that all employers with active coverage are obliged to display in the workstations of their employees. These are the following:
Form P – this form provides the details about the Workers’ Compensation Instructions to Employers and Employees of Arkansas
Form H – this form is the Health Care Notice for Employees Under Managed Care which is regulated by the Managed Care Organization (MCO). It advices the employees of their employer’s choice doctors for their workplace injuries and accidents.

Additional Forms Workers’ Compensation in Arkansas

If you are own an employee-hiring business in Arkansas and eligible for the workers’ compensation benefits, below are additional forms you need to get familiar with.
Form N – Employee’s Notice of Injury (to be submitted to the insurance carrier)
Form 1 – Workers Compensation – First Report of Injury or Illness (to be sent to the insurance carrier, who in turn sends the report to the state on behalf of the employer)
Form S – Supplemental Report (this form is used if there are updates in the condition of the injured employee)
Form W – Wage Statement Immediately Preceding Injury Date

Employers are in charge of issuing liabilities and workers comp insurance benefits to their employee who experience an injury or illness on the job for two years from the day of the accident. It the employee takes longer time to recover physically, the employer can extend the provision for one year from the date of the last payment for new benefits.

SynchronoSure®’s Workers’ Compensation

We are SynchronoSure®, an Insurtech Managing General Underwriter that targets the small to mid-size businesses, those that are part of the gig economy and other emerging industries. With our state-of-the-art data gathering facility, we offer a “Slick, Quick, and Easy” procedure of issuing a policy in 15 minutes or less. And we have a broad appetite for small account Workers’ Compensation risks.

Further details about SynchronoSure®’s Workers’ Compensation:

  • Maximum Unmodified Manual Premium of $35,000
  • Maximum Experience Modifier of 1.35
  • Various Installment Plans
  • Minimum Policy Premium of $1,000
  • Employers Liability with limits up to $1 million / $1million /$1 million
  • Underwrites risks currently in Assigned Risk Plans and new ventures in all class codes

SynchronoSure®’s Workers Compensation has over 1,000 Payroll Classifications (certain limitations apply for class codes in hazard grades E and F, no coverage for hazard grade G class codes).

Give your small business the security against costly medical expenses for employee’s accidents and diseases. Make a smart decision of purchasing the best workers comp insurance now.

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