|
|
OWNERS/OFFICERS
|
- Individuals & Partnerships & LLC’s:
Automatically Excluded but
can option to be included by sending request in writing on their letterhead.
- Minimum/Maximum payroll is $38,000 effective October 1, 2007.
|
CORPORATIONS
|
- Corporations: Automatically Includes all “active” officers.
Must have an approved DIA Form 153 to option
out.
- Any owner/officer who has a minimum of 25% ownership investment can
decide to exempt themselves of coverage. To do this they must complete
a FORM 153 and submit it to the DIA for stamped approval. If this does
not happen prior to the writing of the policy, the owner/officer must be
included with at least the minimum payroll and then submit the approved
form for an endorsement to the policy after issuance.
- Inactive Officer: If an officer has no duties and
does not come on the premises, except perhaps to attend directors’ meetings
or ceases to perform any duties and does not come on the
premises, except perhaps to attend directors’ meetings – they
should be listed in this section and under duties enter “Not Active” and
no payroll is required for this individual.
- Minimum Payroll: $10,400
- Maximum Payroll: $52,000
|
|
|
- In Massachusetts, the word “employer” shall not include nonprofit
entities that are exclusively staffed by volunteers. No coverage is required.
|
|
|
| Effective July 1, 2007 |
- Private 0.055
- Private opt-out 0.019
- Public 0.055
- Public opt-out 0.019
|
EXPENSE
CONSTANT
|
| Effective
September 1, 2007 |
Premium
under $200 = $159.00
Premium over $200 = $318.00
|
CERTIFICATES
OF INSURANCE
|
|
Effective May 1, 2007, The Division of Insurance approved the following
procedures for issuing certificates of insurance for sole proprietors and
partnerships in both the voluntary and residual markets.
When issuing a certificate of insurance, all carriers should determine
legal status of the insured and if a sole proprietor or partnership, they
should determine whether any coverage elections are reflected on the policy.
Based on the findings, one of the following comments (in bold) shall be
shown in the Comments section of the Certificate of Insurance form.
|
|
OTHER
IMPORTANT PHONE NUMBERS/CONTACTS
|
MA
Workers’ Compensation Bureau
(617) 439-9030
www.wcribma.org
|
MA
Division of Insurance
(617) 521-7794
www.state.ma.us/doi.home.html
|
Department
of Industrial Accidents (DIA)
(800) 323-3249
www.mass.gov/dia
|
MAIA's
Tech Hotline (for Irene Morrill, VP Technical Affairs)
(800) 870-7091
"Ask
MAIA" on massagent.com
|
FINANCE
COMPANIES
|
Amgro
100 N. Parkway
PO Box 15089
Worcester, MA 01615-0089
(508) 757-1628
www.amgro.com
|
Premium Finance Company
www.premiumfinance.com
|
CARRIER
COMMISSION SCHEDULES
|
| |
| |
|
|
Non-Commissionable
Premium
|
| Alternative
Market |
5%
|
|
DIA
Assessment & ARAP
|
|
The
Hartford (New)
The Hartford (Renewal)
|
8%
7%
|
|
DIA,
Expense Constant & Terrorism
DIA, Expense Constant & Terrorism |
Norfolk & Dedham (New)
Norfolk & Dedham (Renwal) |
8%
7%
|
|
DIA
Assessment
DIA Assessment |
|