Steve McElhiney presented in a webinar on Friday, April 8th, concerning the Japan Earthquake. Advisen picks up Steve’s comments in today’s Advisen post titled Many U.S. Businesses Lack Coverage for Earthquake Liabilities. See that Advisen post linked here Many US Businesses lack coverage for EQ liab
by Glenn Peterson, Senior Vice Presdient – Risk Managment at EWI
There are cetain states and United States protectorates where you must purchase your Workers’ Compesnation coverage directly from the approriate governmental authority. As an example, if you have opertations in Ohio and are not a qualified self insurer, you must arrrange to purchase your Workers’ Compensation covearge through the Ohio Bureau of Workers’ Compensation.
The monopolistic states are Ohio, Washington, North Dakota and Wyoming. The monopolistic protectorates are the U.S. Virgin Islands, Guam, American Samoa, and Puerto Rico.
It is very important to note that monopolistic jurisdiction policies DO NOT provide Employer’s Liability coverage. In order for a business to secure EL coverage for monopolistic jurisdictions, they must arrange for what is known as “stop gap” coverage. Stop gap coverage may be added by endorsement to non-monopolistic Workers’ Compensation and Employers, Liability, or Commercial General Liability, insurance policies. Consult with your insurer to determine what underwriting information they will need in order to provide this important coverage.
