Compline has put together a quick guide for excluding owners and officers and whatever the confusing new law is trying to do.
The quick guide is available to Compline Members on the dashboard after sign in. Members are welcome and licensed to provide it to clients. Hopefully it will help you learn how to protect your E&O from this fine fettle of a mess.
The legislature (assisted by the insurance carrier lobby) messed up what used to be a relatively simple thing. Dale says it is because some insurance carrier couldn’t underwrite well enough not to get scammed by a contractor who tried to say all his employees were stockholders and excludable. Declining the risk or non-renewing would have been enough, but Noooooo, they wanted legislative “relief” and now we’re all stuck with a bungling mess.
So sign in and get you quick guide to SB 189 today.
Oh, and many thanks to State Compensation Insurance Fund for the assist. [NOTE: They aren’t responsible for Dale’s editorial opinion].