ACM News
It is ACM’s policy that our staff is protected by Workers’
Comp (WC) insurance, and we require contractors employed by our clients to
provide a written contract before starting a project and proof of their WC
insurance annually, however we must rely on the contractor and/or their insurer
to tell us if the policy was cancelled.
We recommend that you protect your community with the addition of
Workers’ Compensation insurance through your insurance agent. Brian Finnerty of
Arthur J. Gallagher & Co. has worked with ACM clients for a number of years
and has provided the information below.
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Workers'
Compensation
Every Condo/HOA should have a
Workers' Compensation Policy
EMPLOYEES or NOT!
Our Program protects against the
exposures every association faces!
The policy is designed to respond to the
following types of claims:
a. An employee of an uninsured contractor is injured at the
association and the employer has not provided proper coverage. If the
association is required by local authorities to step in as the 'employer' as it
relates to benefits owed that injured employee, the policy will respond to that
claim.
b. A volunteer working on behalf of the associations is injured
during the course of their duties. The policy will provide typical workers'
compensation coverage for medical and rehabilitation costs for that injured
volunteer. The wage component is usually zero because there is no 'wage' associated
with the work (i.e., they were a volunteer not paid)
Examples of losses paid by our Program:
Risk State Total Paid
Description
IL $62,972
Volunteer
fell off ladder and injured knee.
CA $19,264
Maintenance
worker injured back while lifting stove.
GA $15,710
Maintenance
worker fell while picking up trash.
NJ $11,677
Manager
developed hernia while pushing dumpster.
CA $24,500
Volunteer
fell and landed on head.
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For additional information regarding this important coverage please
contact
Brian
Finnerty
Brian Finnerty@ajg.com
(p) 704-602-3823 (c) 704-560-2471