Workers Compensation, what information is needed to quote?
Here is a list of some of those items that may be required to obtain a quote:
Address – location and mailing address will be requested, if they are different addresses provide those as well.
Employers liability limit – Does your firm have a contract requirement or carry limits currently that need to be matched. The states each have different limit requirements as well, so this may vary depending on where your firm is domiciled.
Other states – Does your firm work or have locations in other states? If so, what are those states?
Payroll – What is the payroll of the employees of your firm? This will need to be separated out for each category (architects, engineers, clerical, drafting). In additional some insurance companies may ask for job titles and duties or a list of all employees broken down.
Included/Excluded – Will officers of the firm be included or excluded from the policy. If included the insurance company will need the payroll and job title information as described above. If excluded then they will need the name of the excluded officer and may ask for the percentage of ownership each officer.
Current insurance coverage – Details of your current policy, including effective dates, limits and if your firm has any claims. If your firm has claims, any details of the loss will need to be provided. The insurance company may also ask for the claims report.
There may be other questions asked of your firm. Are minors or interns hired? Does your firm work with sub consultants and if your firm obtaining certificates of insurance for those sub consultants? Does your firm travel out of the state or country? Does your firm lease employees?
As always your PUI Agent is here to help you with the Workers Compensation application process. Please call or email with any questions you may have.