What changes can be made on and architects/engineers Workers Compensation policy?

While the conditions and exclusions cannot be changed on the policy there are many other changes that can be made.

The employer’s liability insurance limits can be changed.  For example your policy may have $100,000 each accident, $500,000 policy limit, $100,000 each employee.  That can be increased, depending on the insurance company, to higher liability limits such as $1,000,000 each accident, $1,000,000 policy limit, $1,000,000 each employee.

If your firm hires additional employees during the policy period you can increase the salaries on the policy.  The increase of the salaries that takes place now will help to elevate a higher premium due when the audit is completed.  Additionally, if your firm hires new staff, such as clerical, that isn’t already listed as a classification, that can be added.

A blanket waiver of subrogation, in most cases, can be added.  This will depend on your firm and the insurance company, it may require underwriting approval.  If a blanket waiver of subrogation can’t be added it may be that the insurance company can list specific clients for the waiver of subrogation, again this may require underwriting approval.

If your firm adds locations, this can be added to the policy.  Depending on the location, there may be specific endorsements needed at an additional cost but you can check with your insurance agent to find out the cost.

General changes to your policy can also be made, such as address change or firm name change.  These typically do not generate an additional premium.

Please be sure you discuss the changes and potential premium with your insurance agent.  If you have any questions call or email your Professional Underwriter agent.