Home to the quartz crystal capital of the world and the only diamond-bearing site open to the public, Arkansas offers more than just the beautiful landscapes of Ozark National Forest and Crater of Diamonds State Park. The Natural State has seen the formation of both Walmart and Tyson Foods; served as the inspiration for the Johnny Cash song “Five Feet High and Rising” and the Beatles’ “Blackbird”; and functioned as writing inspiration for John Grisham and Ernest Hemingway.
From Jonesboro to Little Rock to Bentonville, Arkansas has taken steps to make the state a desirable location for businesses and startups, creating a “single point of contact” system and removing confusing bureaucratic processes. It’s a national leader for the aerospace and aviation industry (Arkansas’s second-leading export) and represents a diverse economy of corporate retailers, food and beverage manufacturers, and transportation, distribution, and logistics companies.
Despite the presence of corporate giants, 99% of businesses in the state are categorized as small. Arkansas’s small businesses employ more than 479,000 people, accounting for 47% of the state’s private workforce. However, with more than 28,300 workplace injuries and 76 fatalities across all industries in 2017, small businesses need to make sure they are protecting their employees and assets with workers’ comp coverage.
With few exceptions, if you have three or more employees working in Arkansas, your small business is required to carry workers’ compensation insurance. Workers’ comp covers work-related injuries and illnesses regardless of fault. Employers that do not comply with the state’s workers’ comp laws may face penalties and lose protections afforded them by workers’ compensation insurance.
Pie Insurance is proud to provide workers’ compensation insurance to Arkansas’ small businesses.