General Workers' Compensation Information
Workers' Compensation Coverage
Workers' Compensation is a no-fault system of compensation in which employees
who are injured at work may obtain payment for lost wages, medical costs, and
occupational rehabilitation expenses without regard to their personal
negligence or fault. In exchange for this no-fault system, employees give up
their right to sue their employers directly for negligence or other damages.
Hartford offeres broadened endorsements.
Cancelled or Non-renewed Risks
Please bring it to our attention if a risk has been
cancelled or non-renewed by another company prior to submission. Please provide
complete information regarding the reason for cancellation/non-renewal, the
circumstances of the situation, and measures taken by the applicant to prevent
the cancellation/non-renewal.
Workers' Audit Basis
Workers' Compensation premiums and exposures are subject to
final audit. Earned premium for the exposure will be determined at the end of
the policy period.
Waiver of Premium
Additional or return premium account balances of $10.00 or
less will be waived.
Cancellations
Policies will be cancelled and Prorated (without penalties)
if a policy is cancelled for the following reasons:
-
At the request of the company
-
Nonpayment of premium
-
Insured no longer has a financial or insurable interest in the property or
business operation
If a policy is cancelled for any reason other than outlined
above, a penalty percentage of the unearned premium will apply.
Payment Options
Direct billing is available through the carrier. Exact
pay plan.
Certificates of Insurance
Evidence of insurance can be provided by the producer.
Additional Insured Guidelines
No additonal insured can be added on Workers' Compensation
Policies.
Reinstatement
Considered on case by case basis by the carrier.
NO COVERAGE IS BOUND WITHOUT PRIOR APPROVAL FROM
BUILDERS & TRADESMEN'S INSURANCE SERVICES, INC. & THE CARRIER. BUILDERS
& TRADESMEN'S INSURANCE SERVICES, INC. & THE CARRIER RESERVE THE RIGHT
TO DENY ANY REQUEST FOR REINSTATEMENT.