Recent Posts in Commercial Insurance Category

  • Work Comp Officer Exclusion Threshold Changing to 10%

    Important notice for our clients who carry Workers Compensation insurance Last year, state law AB2883 changed officer exclusion criteria making it so that only owners/officers/executives with at least 15% ownership could be excluded from the payroll calculation for Work Comp premiums. Well, that is changing again on July 1, 2018. The new threshold to allow exclusion will be ownership of 10% or ...
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  • 2017 Experience Modification changes

    In the fall of 2016, agents and insureds will start to see 2017 experience modifications. For some the new changes will mean lower experience modifications, but for many it will mean the same losses and payrolls will generate a much higher modification. There are two main changes that you need to aware of. First , the $7,000 primary loss cap is going away. Instead you will be graded on a sliding ...
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  • Employee Dishonesty and Fraud On The Rise

    Employee Dishonesty and Fraud are on the rise… Some facts*: Employers lose about 6% of their annual revenue to employee theft, forgery or computer fraud. The median claim is around $140,000 (in my personal experience it’s actually more like $200,000-$250,000). Most claims occur over long periods of time, usually three or more years. Most employers only carry a nominal about of coverage and are not ...
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  • Complicated Minimum Wage and a New Labor Law puts Officers’, Directors’ and Managers’ Personal Assets on the Line

    Personal Liability If you are an Officer, Director or Manager, a new statute in California might make you personally liable for your company’s Wage and Hour Laws violations. In other words, if your company is out of compliance with any of these laws or regulations, your personal assets including your bank accounts, investments and property may be levied to pay fines, back wages and damages. Wage ...
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