Worker's Compensation

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Workers' Compensation

All employers in Maryland are required to provide workers' compensation coverage for their employees. Workers' compensation may be provided by the employer in one of three ways:

The employer may insure with any company which is authorized to write this type of coverage in Maryland;

The employer may insure with the Injured Workers' Insurance Fund (IWIF), which is a self-supporting agency of the State of Maryland; or Department of Business and Economic Development.

The employer may self-insure. This entails furnishing the Workers' Compensation Commission with proof of the financial ability to pay compensation, plus furnishing the required bond, excess insurance, and a safety plan.

Insurers, including the IWIF, offer very competitive rates when compared to other states. According to Actuarial and Technical Solutions, Inc., which publishes an index of workers compensation costs:

Maryland ranks ninth lowest among the states for office and clerical occupations, with costs averaging 34 percent below the national average, and

For manufacturers, workers compensation costs in Maryland rank 12th lowest in the nation, and 25 percent below the average for all the states.

Taken from Maryland Department of Business and Economic Development.

111 S. Calvert Street • Suite 2220 • Baltimore, MD 21202 • Phone: (410) 468-0100 • Toll-Free: (888) 298-4322 • Fax: (410) 468-3383

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