FAQ on Workers Compensation for Architects & Engineers
These are some of the common questions we receive with regards to Workers Compensation for design professionals.
Why my firm is receiving audit paperwork to complete? – The workers compensation is an auditable policy and typically audited on an annual basis. Your firm may have had changes in employees in during the policy period. This, in turn, affects the salaries and the workers compensation policy. At the beginning of the policy period the premium is an estimated premium, and then the actual premium is determined after the audit is completed.
Does my firm need to let the insurance company know every time we hire an employee or an employee leaves? – The answer is no, the insurance company completes an audit at the end of the policy period and the changes to employees at your firm will be reflected in the audit. Also, the new employee will be covered automatically. However, if there are drastic changes in your firm’s salaries you may want to let the insurance company know.
Do owners have to be included in the Workers Compensation policy? – Some States say that owners do not have to be included in the workers compensation policy; they do have the option to be included or excluded. The salary will be capped, based on the State rules and the year of the policy.
If my firm has employees in other states how do we include them in the Workers Compensation policy? – It is quite common to have ‘remote’ employees or even a second location in a different state. The additional location can be added to the policy with the address, job titles and salaries of the employees in that location.
If you have questions that have not been addressed with regards to Workers Compensation please call or email your Professional Underwriters agent.