Worker’s Compensation coverage is a state mandated coverage required for all companies with employees. Employers usually do not require coverage for themselves individually, but there are circumstances where they may need to be or elect to be covered. Worker’s compensation pays benefits to injured workers regardless of whether there has been in negligence by the employer.
Hawaii is a sole remedy state meaning that if a worker is injured on the job the only source of compensation is via the worker’s compensation program. A great way to reduce your annual premium is to institute a safety program and take advantage of generous safety credits that local insurer’s have to offer. Moreover, instituting policies and procedures to reduce the severity and frequency of claims will reduce your overall experience modification factor, and lower your premium greatly in the long run. An example of safety credit discounts available locally can be found here. (http://www.hemic.com/Safety_Credit_App.pdf)