Ohio Insurance Director Announces Launch of “Insure U” for Small Business 

The Ohio Department of Insurance announced the launch of the Insure U for Small Business section on the Ohio Department of Insurance web site, www.ohioinsurance.gov 

The Insure U for Small Business curriculum includes six categories of vital information to small businesses: workers’ compensation; group health and disability; business property and liability; commercial auto; group life and key person life; and home-based business insurance. Research has revealed that many small businesses — defined as those with fewer than 100 employees — are exposed to serious risks that could be mitigated by a better understanding of insurance options. Key findings of the research show: 

Only 47 percent of small businesses offer heath insurance to their employees. Of those, 24 percent report changing the fee structure, deductibles or other components in the past year to offset the rising cost of premiums. 

Only 59 percent of small businesses with fewer than 20 employees have workers’ compensation insurance, which state law requires for most companies. Workers’ compensation insurance protects business owners from claims by employees who experience a work-related injury or illness.