Forbes Advisor: The top-rated workers' comp carriers of 2023

Most businesses in America carry workers' comp as it is required in every state except Texas, according to Embroker, which noted there are exceptions for sole proprietors and the self-employed. Depending on where the business is located, the penalty for not carrying workers' comp coverage can be severe. Embroker reported that noncompliance is a criminal offense in California, where the penalty often costs twice as much as the business would have paid in premiums or $1,500 per employee. Despite the stiff penalties, California employers continue trying to skirt the state's workers' comp requirements. Pennsylvania and New Jersey also consider noncompliance a criminal offense. Illinois employers that willingly fail to secure coverage can face a felony charge, while New York and Virginia issue fines as high as $50,000 for noncompliance. The above slideshow highlights the highest-rated workers' comp carriers, according to Forbes Advisor. For the rankings, Forbes Advisor based 90% of the scores the level of upheld complaints made to state insurance departments and collected by the National Association of Insurance Commissioners. The remaining 10% of the scores were based on the financial strength assigned to the company by AM Best. Related:

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