If payroll records are lost before an insurance audit, employers should notify auditors, attempt to reconstruct data, and ensure compliance. Learn how to avoid penalties and protect payroll records for future audits.
Small and midsize businesses can more effectively protect their trade secrets and customer relationships by requiring employees to enter into non-compete agreements. 1. Non-Compete agreement can enhance the value of your company 2. With non compete clause you can qualify for trade secret protection 3. Non-compete agreements do protect your customer relationships and enhance your clients’ confidence 4. Require all training employees to sign the non-compete agreement to protect your investment 5. Make sure you clarify expectations with employees 6. With a non-compete agreement signed you prepare the rules of a potential litigation 7. Although hard to prosecute, your competitors… Read More »Seven Benefits of Non-Compete Agreements
A workers compensation statute of limitations is a regulation in a common law legal system that sets the maximum time after an event that legal proceedings based on that event may be initiated. For example, such legal proceedings may involve claim subrogation or premium collection. California’s statute of limitations for collecting unpaid insurance premiums begins once an insurer has sent its final audit bill to the policyholder, and continues for 3 years. In a unanimous opinion, the court said the California State Compensation Insurance Fund could collect on $1 million in workers compensation premiums owed by building contractor, even though… Read More »Workers Compensation Statute of Limitations Explained
Business insurance premium is subject to audit: workers compensation audits payroll, product liability audits sales, payroll as well is under audit in the construction industry. And if you ever had business insurance and gone through the audit, I am sure you’d been wondering around confusing forms on multiple pages, that required you some calculations and even your accountant was raising the eyebrow. Well, lucky us, no longer that would be the case with policy written through Select Travelers Insurance as the national rollout of our new ePHR (Electronic Policyholder Report) audit process to all eligible Select Policyholder is taking place… Read More »Electronic Audit of Insurance Premium