David Stiefel, MBA, CPA/PFS
Shareholder and Director, Family and Closely Held Business Services

You're insured, so why worry? Well, let's say you own a business, large or small. It may be a professional practice, an office, a retail store, or perhaps a consultancy that has you out of the office much of the time. You have medical insurance to cover illnesses and injuries and industrial insurance for your employees, so you don't need elective industrial insurance. Right?

Or maybe you have a nanny or other domestic help working in your home. Your nanny may have medical insurance, but likely doesn't, and you have a homeowner's policy. Again, you don't need industrial insurance for her potential workplace illnesses or injuries. Right?

Wrong on both counts. You may think you're covered, but it's very likely that you are uninsured when it comes to your health concerns that originate in the workplace. Many medical insurance policies specifically exclude workplace illnesses and injuries, and business owners and certain domestic workers are not automatically covered by Washington State's industrial insurance program―the Washington State Fund.

Click Full Article to learn more about your personal liability in the event of a workplace illness or injury, and why you should consider Washington's optional industrial insurance coverage.