What type of insurance are brokers typically required to provide for their agents?

Brokers are typically required to provide Worker's Compensation Insurance for their agents because this type of insurance covers employees in the event they are injured while performing job-related duties. In a real estate brokerage, agents are often classified as employees, making it essential for brokers to protect them legally and financially. Worker's Compensation Insurance ensures that in case of an injury, the agents receive benefits for their medical expenses and lost wages, thus fulfilling legal obligations and creating a safer work environment.

Health insurance, life insurance, and property insurance, while beneficial and sometimes offered by employers, are not typically mandated by law for workers in the same way that Worker's Compensation Insurance is. Each of those types of insurance serves different purposes and does not specifically address workplace injuries or liabilities that can occur during real estate transactions.