Tom began his insurance career with Aetna C&S where he benefited from an outstanding technical training program. Since then, Tom has not only been a prolific insurance adviser for his clients, but a strong team leader and mentor for the entire commercial lines practice at Mason & Mason. Early on Tom played a key role in building Mason & Mason’s Construction division. His close contact with the construction industry led to his election as the Associate Vice President of the Builders Association of Greater Boston, where in 1992 he was honored as Associate of the Year. He has been a membeMore...More...
If the policy does have a vacancy clause in it. Most of them it’s 60 days. If all of the business property is still as in, they haven’t moved the chairs, they haven’t moved the tables, this may not meet the definition for vacant, it’s just not being used. So any peril, something causing physical damage would probably be covered. And you have a pipe that leaks, you have something that freezes, you’ve got a car that comes through the front window thaSee More...See More...
The price of your workers comp is based on gross payroll. If your employees are not getting a paycheck from you then there is no charge for them for WC. If they employees are going to be laid off for a period of time you need to be in touch with your workers comp agent to be sure the exposure basis is reduced. You do not want to damage your cash flow sending money to the insurance company when it will be returned at Audit. In many cases your liability See More...See More...
You need to have contact with your workers comp agent and see about getting the exposure basis reduced for the payroll that is not being made because folks are laid off. If no change is made the premium should be returned when the audit is completed but why send the insurance company the money so they can send it back to you.See More...