Recently named “the Silicon Valley of cybersecurity,” Washington DC is no stranger to ingenuity. Though smaller than 70 square miles, the district has been the backdrop for more than 200 movies, is home to an impressive 16 Michelin Star restaurants, and is rated the #1 most highly educated workforce.
The nation’s capital may be best known as the home of the U.S. federal government, but with more than 72,000 small businesses in the District, the retail and hospitality industries continue to strengthen, as do tech startups and financial services companies. From Tenleytown to Georgetown to H Street, DC’s small businesses employ more than 243,000 people, accounting for 47% of the District’s private workforce.
However, 8,300 workplace injuries and 13 fatalities across all industries in 2017 remind us why workers’ compensation insurance is mandatory in DC for any company with one or more employees.
Workers’ compensation insurance covers employees’ wage replacement and medical bills if they are injured on the job. Small businesses can purchase workers’ compensation insurance from any private insurance carrier or agency that is licensed to write in the District.