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If a business owner employs their son or daughter at their business, they must have workers compensation insurance like any other employee. In the State of Florida, almost all companies need to have workers compensation insurance, no matter if they employ a family member or not.
Workers Compensation insurance is mandatory for most employers in Florida. Employers should have knowledge of the workers compensation coverage requirements to ensure that they are complying with the law. Failure to have workers compensation insurance puts employees at risk and subjects employers to penalties.
If youre a sole proprietor or a partner in a business, you are not considered an employee, and therefore, you can opt to be exempt from workers comp coverage. However, its essential to understand that by doing so, you are personally assuming the risk of work-related injuries.
In order to apply for or renew an exemption from workers compensation law, the exemption applicant must complete and submit a Notice of Election to be Exempt application online to the Florida Division of Workers Compensation.
By law, you cannot waive your right to file a workers compensation claim. The insurance companies may deny your claim and there are times when an injured worker can elect a course of legal action over workers compensation (such as a lawsuit against a wrongful third party).
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Exemptions are valid for a 2 year period. The effective and expiration dates are listed on the Certificate of Election to be Exempt.

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