Companies with 3 or more part-time or full-time employees must buy a workers compensation insurance policy.  Employers with less than 3 employees can still be liable for claim costs if a work comp policy is not bought.

Partners & Sole-Proprietors are automatically excluded from a workers comp policy, but they can opt to be included.

Partners & Sole-Proprietors who include themselves on a work comp policy must use a minimum payroll amount of $51,800 for premium calculation purposes. (As of April 1, 2017)

Corporate Officers are automatically included on a policy, but they may opt to be “partially excluded” by rejecting accident coverage.  A Notice of Work Comp Rejection form must be filed with the insurance carrier and the Virginia Workers Compensation Insurance Commission.

Unpaid Corporate Officers are not determined to be employees.

LLC Members are deemed owners and therefore, excluded on a workers comp policy.  They are able to include themselves on the Acord 130 form.

LLC  Managers are treated the same as Corporate Officers.

Officers and LLC Members not excluded on a workers comp policy must use a $26,000 minimum payroll and a $104,000 maximum payroll for the purpose of calculating work comp insurance premium. (accurate as of April 1, 2017)

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