Frequently Asked Questions # 27

27. What type of insurance coverage should I obtain for my business?

It is very important that business owners maintain adequate insurance coverage such as liability, property/casualty, loss of use, unemployment, workers' compensation, and product insurance. We recommend that you review your insurance needs with your insurance agent or one who handles commercial coverage.

Refer to: Arkansas Workers' Compensation Commission at (501) 682-3930
              www.state.ar.us/awcc

              Arkansas Employment Security Department at (501) 682-3102
              www.accessarkansas.org/esd

Regarding health insurance, it is difficult for small business owners to obtain group rates, since they do not have the benefit of economies of scale like corporations, which receive lower group rates. One option to small business owners is to join a trade association that offers health insurance to its members. These members are pooled together to receive a group rate.

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