As a business owner, you do everything you can to protect your employees from potential dangers, but do you have insurance protection for your employees, which in turn protects your business? Most business owners understand that workers compensation is important, but did you know that if you have three or more employees, it is required by law for most businesses to have coverage? Workers compensation is a type of insurance coverage that protects you in case of injury to an employee during the course of their employment. Owners and officers can opt out if they choose.