Q. My daughter and I are the sole owners of our business. Are we required to obtain workers’ compensation coverage even though we have no employees?
A. Generally, sole owners of a business are not required to obtain workers’ compensation coverage for themselves. However, they do have the option to do so.
On the other hand, if you hire even one employee, even on a temporary basis, you will need to have workers’ compensation coverage.
It’s best to consult with your attorney, insurance agent or broker, or carrier to discuss what options are available to you given your specific situation.