I’ve been working with workers comp since 2004 and although it’s the simplest of all the insurance coverages, it’s ironically the one that seems to cause the most confusion. I get more questions about workers comp than I do about any other coverage. Why is this? I don’t know….. maybe because workers comp is freaking EXPENSIVE!!!
Most businesses have people that help move their enterprise forward. They’re called employees. Many businesses have a few other people that are kind of like employees, but aren’t. They’re called independent contractors or subcontractors.
Last month I wrote a blog about Common Majority Ownership (you can read it here) where I discussed how separate legal entities are tied together by the WCIRB when the same individual owns a majority of each of those entities.
Have you – a business owner – ever had to get a Primary and Non-Contributory Wording endorsement on your general liability policy? Have you – a business owner – ever wondered what Primary and Non-Contributory Wording actually means?
Waiver of Subrogation Endorsements are confusing. According to the spell check application editing this content, the word “subrogation” doesn’t even exist. If you have ever come across one when dealing with your commercial insurance, you know it most certainly does exist, although you may not know what it is. Is it possible to unlock this mystery?
What is an Additional Insured Endorsement? And why do I need it on my business insurance policy? These are very common questions. So common in fact, that if I got a burrito every time I was asked these questions… let’s just say I would be wearing much bigger pants.
Sometimes a man owns more than one business. If the business is a sole proprietorship, he is 100% owner of all of those businesses. If the business is a partnership, LLC, or corporation, he owns at least a portion of those businesses.
Milk and cookies go so well together. Santa eats them. Kids eat them. We all eat them. It’s the cool creaminess of the milk seeped into the crunchy cookie that makes it so appealing. Opposite things often pair together well…. except in insurance.
That’s what I often hear when I talk to business owners about their workers comp, and, specifically, who is eligible to be excluded. I’m not calling my business owner friends disparaging names. What I’m saying is that they’re believing fairy tales.