Workers Compensation

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

·         Insure with any company authorized to provide coverage in Maryland;

·         Insure with the Injured Workers' Insurance Fund (IWIF); or

·         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.

Injured Workers' Insurance Fund Rates (As of January 1, 2013)

Code	Business Sector	Base Rate Per $100 Payroll*
3685	Instrument Manufacturing	$1.65
4511	Analytic Chemists, Labs and Testing	$0.41
4299	Printing	$2.16
8018	Wholesale/Distribution	$4.44
	Standard Exceptions:
8810	Clerical/White Collar	$0.41
8742	Outside Salesperson	$0.38
7380	Driver/Helper	$12.14

* Discounted "preferred tier" rates are available for businesses meeting certain criteria.  Rates earned in other states by companies relocating to Maryland are not transferable when insurance is to be carried with the IWIF.  Private insurance companies, however, permit the transfer of ratings earned in other states.

Source:  Injured Workers' Insurance Fund.