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Stock impact report

Is Workers' Compensation insurance for sole proprietors required? [Yahoo! Finance]

CSL LTD SP/ADR (CSLLY) 
NASDAQ:AMEX Investor Relations: csl.com/investors
Company Research Source: Yahoo! Finance
Workers' compensation insurance coverage for sole proprietors depends on your state, industry and the type of work you do. In many cases, sole proprietor workers' comp requirements depend on whether you hire employees, hold a trade license or work under client contracts, ERGO NEXT reports. In general, coverage may be required if: You hire one or more employees Your trade license requires proof of workers' comp A client or contract requires a certificate of insurance (COI) You work in certain higher-risk industries, depending on state rules State requirements for sole proprietor Workers' Compensation Because workers' compensation laws vary by state , it's important to review your local requirements or speak with a licensed insurance advisor to understand what applies to your business. Some states allow owner-only businesses to opt out of coverage, while others may require coverage in certain industries. For example, in California, some contractor license classification Show less Read more
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