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...t of the work to one or more subcontractors, but may still be liable for Worke...o categorize individual workers as contractors or otherwise avoid paying Compe...

...t of the work to one or more subcontractors, but may still be liable for Worke...o categorize individual workers as contractors or otherwise avoid paying Compe...

...ch manager say that they wanted contractors, but the underwriters are turning them down? What is it about our contractors that makes them unacceptable? Is i...

... it carries this coverage. While building a home, the general contractor hired the subcontractor to perform roofing work with payment to be based on the square footage of the completed roof. The subcontractor did not carry Workers' Comp, and it was understood that he would not employ anyone. However, the subcontractor hired a worker to assist him: an experienced roofer who worked for another company but performed side jobs several times a year. This worker fell and was injured. The court held that he was an employee of the general contractor, not an independent contractor, based on the general contractor's right to control the claimant's work and to terminate the relationship at will. Thus the general contractor was a statutory employer required to pay compensation benefits but immune from tort liability. BORROWING AND LENDING: SPECIAL ... Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Statutory Employers, Special Employers, And Workers' Compensation 4/30/2013 10:45:23 PM by CompleteMarkets Editor , Marvin Sahl This content has not been rated yet. STATUTORY EMPLOYERS, SPECIAL EMPLOYERS, AND WORKERS' COMPENSATION by Marvin Sahl, CLU The long-standing controversy about independent contractor status continues. More and more employers are creating contracts without providing Workers' Compensation coverage and other mandatory and voluntary fringe benefits. (These contracts may also be intended to eliminate the employer's responsibility for Social Security, Medicare, unemployment insurance taxes, and so forth) . Employment status can be used to get Comp benefits for a party whom the employer never intended to cover. An employer can ...

... that it carries this coverage. While building a home, the general contractor hired the subcontractor to perform roofing work with payment to be based on the square footage of the completed roof. The subcontractor did not carry Workers Comp, and it was understood that he would not employ anyone. However, the subcontractor hired a worker to assist him: an experienced roofer who worked for another company but performed side jobs several times a year. This worker fell and was injured. The court held that he was an employee of the general contractor, not an independent contractor, based on the general contractor's right to control the claimant's work and to terminate the relationship at will. Thus the general contractor was a statutory employer required to pay compensation benefits but immune from tort liability. BORROWING AND LENDING: SPECIAL ... Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Statutory Employers, Special Employers, And Workers Compensation 4/30/2013 10:45:23 PM by CompleteMarkets Editor , Marvin Sahl This content has not been rated yet. STATUTORY EMPLOYERS, SPECIAL EMPLOYERS, AND WORKERS COMPENSATION by Marvin Sahl, CLU The long-standing controversy about independent contractor status continues. More and more employers are creating contracts without providing Workers Compensation coverage and other mandatory and voluntary fringe benefits. (These contracts may also be intended to eliminate the employer's responsibility for Social Security, Medicare, unemployment insurance taxes, and so forth) . Employment status can be used to get Comp benefits for a party whom the employer never intended to cover. An employer can also ...

... You can reach all your production goals- exceed them even-and if one of your carriers unceremoniously cuts commissions, will your profits be the same as you were expecting? OK, so who cares about this revised business formula? Well, let's expand on it because it's not just an equation-it's also the representation of a spread sheet' thought process. In our equation, everything that changes on the left side of the equal sign will not have a direct effect on the right. It will first affect the other items on the left. The cumulative effect of those left side' factors will influence the profit on the right side of the equation. This is what many of the downsizers' of the last few years often miss entirely. When cutting staff, they seldom stopped to evaluate the effect ... Specialty Lines Technology Uncategorized Choose a Content Package All Member Content IMMS Library Jack Burke LIG Marine Managers USG Insurance Services, Inc. NIF Group Inc. PRS High Hazard/High Risk Workers' Compensation Business Insurance Insurance for Individuals and Families Personal Finance Search Titles only Search author Search Titles and content Show Results Loading.. Similar Articles Sample Broker-Of-Record Letter Dedicated' Agency Management Purchase And Sale Agreement Part I Independent Contractor Producer Agreement $200,000 Gross Commission Per Producer: Dream Or Reality? Content Packages This article is part of the IMMS Library , which contains more than 2451 documents published by industry-leading authors. (Hidden) Categories Benefits & Financial Services (53) Commercial Lines (93) Communications (629) Customer Service (530) Financial/Accounting (314) General Articles (572) Human ...

...tral Oregon agency insured 100 contractors, she focused her marketing to that... John Baccarella's statewide contractors niche operates with $178,000 r...

... skewed by the use of consultants and outside contractors that agencies don't figure into their employee count. You'll need to build your own PED model. The question I'm most often asked is, How do you do this? ' Many agency-management systems will get you close, if your accounting area takes the time to allocate every expense and income item. The allocation of income is easy. It's the expense side that takes time, and changes regularly. I believe that the best way to produce the final product is with Excel or a similar spreadsheet. The nice thing about Excel is that it's easy to change, and can run what if' scenarios. The important thing is that the PED model matches your agency's operation, not the financial sheet presentation your management system provides. The majority of agency ... the agency be allocated to an income-producing area. Don't have an administration department for expenses only. Agencies are given excellent guidelines to measure their total income and expenses through studies and reports by IIAA, PIA, ACORD, The Academy of Producer Insurance Studies, and others. But I haven't seen any that consider the PED. Some of these guidelines are also skewed by the use of consultants and outside contractors that agencies don't figure into their employee count. You'll need to build your own PED model. The question I'm most often asked is, How do you do this? ' Many agency-management systems will get you close, if your accounting area takes the time to allocate every expense and income item. The allocation of income is easy. It's the expense side that takes time, and changes regularly ...

... the most visible part of a bank's comprehensive insurance strategy. The typical acquisition won't necessarily expand the list of products and services offered to customers. Being acquired by a bank often makes a strong agency stronger and a weak agency weaker. Experience has shown that agencies are likely to continue to operate at a level consistent with their historical performance. It takes time and a great deal of trust on both sides to develop synergy between banking and insurance. While senior management might support the cross-selling of insurance and banking, the trust needed to facilitate sustained referral activity takes months to build and is easily lost. Banks have chosen a variety of methods for distributing insurance products. The recent Study of Best Practices of Leading Banks in Insurance, ' conducted by the Association of Banks-In-Insurance and Reagan Consulting, indicates that ... the realm of financial services, banks and insurance are more like first cousins than like siblings. Both parties can leverage opportunities for the other side, yet common ownership doesn't guarantee success. Bank officers are unwilling to expose some of their most significant and profitable banking relationships for the chance to earn a small referral fee on insurance activities. Conversely, many of the very best insurance accounts, such as contractors, trucking companies, and other higher-risk businesses, tend to be poor banking relationships. In other words, there's a great deal of synergy between the two industries, but meaningful and obvious roadblocks to product cross-selling have emerged. Some banks have found that insurance agency personnel don't treat bank customers with the same degree of care, professionalism, and responsiveness they accord to their own clients. The result ...

...est insurance accounts, such as contractors, trucking companies, and other hig...