According to the Alaska Department of Labor and Workforce Development, all businesses in Alaska with employees must have workers’ compensation insurance.
Part-time, temporary, family members and friends who are employees must be included in a business’s workers’ comp coverage.
All contracting businesses must make sure their subcontractors have satisfactory workers’ comp insurance.
Other special provisions require that the following groups are also covered with Alaska workers’ comp:
This state does not accept reciprocity policies from other states to fulfill the requirement for workers’ comp. Alaska businesses must be insured by an in-state policy.
A complete list of employee responsibilities can be found in the Employer’s Guide to the Alaska Workers’ Compensation Act.
Workers’ comp insurance can help pay for a number of costs related to workplace injuries for employees, such as:
Four categories of workers’ compensation income benefits are available in Alaska:
Additionally, death benefits apply when an employee dies as a result of a work-related injury or illness. This may include coverage for funeral benefits and monthly payments to a spouse and dependents.
If your business fails or refuses to obtain the proper worker’s compensation insurance, it could be served with a stop work order.
A mandatory penalty of $1,000 per day applies if you violate the stop work order. Additional penalties of $10 to $1,000 per employee per day could be added to that fine.
The statute of limitations extends through the previous six years. That means your business could be penalized for lapses in coverage at any time during those six years.
Your business is at serious financial risk if an employee injury occurs while you’re uninsured. The injured worker can file a claim against you and the Alaska Division of Workers’ Compensation Benefits Guaranty Fund.
If the employer fails to pay, this fund covers the injury-related costs and then aggressively pursues full reimbursement from the responsible employer.
Workers’ compensation costs vary across industries. Factors that influence price include:
Get a free instant quote in about 10 minutes from NEXT to see your workers’ comp insurance costs.
Alaska workers’ compensation coverage requirements do not apply to independent contractors and volunteers.
In addition, some business owners are exempt from having to insure themselves, including:
Even if you work for yourself, you might still want workers’ comp for its protection against lost wages and medical bills after a workplace accident. Your personal healthcare insurance might not cover you.
No specific industries are exempt from Alaska workers’ comp, but some exceptions by occupation include:
NEXT strives to resolve every claim quickly. Learn more about our claims process and how our claims advocates will work with you after an employee injury.
General liability insurance protects your business from common mistakes or accidents, such as customer injury or damages to someone’s property.
If you or your employees drive vehicles for work, you probably need commercial auto insurance. This provides coverage for accident-related expenses in a business-owned vehicle or a personal vehicle being used for work purposes.
Commercial property insurance can provide financial help if your business structures, goods, gear or inventory are damaged or destroyed by a covered event.
Learn more about workers’ compensation insurance options in the state where you work.
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