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follow up re workers comp December 6, 2017

KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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follow up re  workers comp
December 6, 2017
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follow up re  workers comp article on November 30, 2017
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Ken
    In regards to the owner operator having WC coverage, in my experience when I was a sole proprietor with no employees and did not need it, all was fine.
    Then as your writer stated I too started to subcontract and was required to purchase coverage. HOWEVER as the owner of the company I had to waive coverage or pay an astronomical premium.
In order to maintain coverage for my employees I have to submit a payroll audit annually and my premium is based on the payroll and overtime. My carriers ( I have had several in 25 years) all insist I waive coverage for myself as the owner or pay the penalty premium.
    Can you have your insurance contacts comment?
Joel   (From under the bus)
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Ken,
    As you are aware, having Workman’s comp is, to me, a MUST.
    While I am the owner of my company, I have been listing myself as an employee under the policy.
Roughly 3 years ago I was in a car accident while traveling from one client to another.  The workers comp policy was absolutely the right thing to be covered by, and although they are VERY slow to get things done, ultimately they do. 
    Just a perspective
Alan
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Response
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    If you are a small operation and as owner particpate in installation and service, working at the subscriber's premises, you should include yourself in the workers comp policy.  If you suffer a serious injury while on the job you will be glad you had the coverage.  Like all insurance, you don't need it until you do.  
    I asked Ginna Britez from the Butwin Insurance Group about the WC policies.  Though state law can differ, they are for the most part similar.  In NY the alarm installers are in Class code 5191 and the rate for the WC premium is based on $2.13 per $100 of payroll.  That is the rate for employees and for the owner, as long as the owner includes his payroll in the calculation.  There is no extra charge or add-on just because it's the owners payroll included.  Some state will permit a single employee-owner not to carry WC, but generally all states will permit the owner-employee to be included.  If hurt on the job you will be covered only if you included yourself in that coverage.  Trying to get it after the fact isn't going to work.  
    If you need information on WC insurance give Ginna a call at 516 466 4200 x 147 and if you are looking for a top notch insurance broker contact Rich Butwin at 516 466 4200 x 147.
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
516 747 6700
www.KirschenbaumEsq.com