Avionics News December 2015 - 38

series

Aviation Insurance 101
B Y

B R YAN

AV ER I LL

OF

A V I A TI ON

S OL U TI ON S

Workers' compensation
insurance is essential
for your business
EDITOR'S NOTE
Bryan Averill is an insurance
broker for Aviation Solutions. He is
a former avionics technician in the
U.S. Marine Corps and specializes
in avionics insurance liabilities.
Aviation Solutions provides an
expert analysis on the insurance
needs for general aviation,
offering an array of coverages,
including product and completed
operations. For more information,
visit aviationsolutions.aero.

38

avionics news

*

december

2015

N

umerous questions arise when the topic is workers' compensation. However, as an employer, there are items that must be
understood and adhered. As a business owner, it is imperative
to know the workers' compensation laws in your state(s). If
required by your state, the penalties for not providing workers' compensation could result in the loss of your business. Obtaining a trusted
aviation insurance broker who understands your operation can be invaluable to
ensure compliance. The broker's job is to guide you, the insured, through this
process, to make it as easy as possible.
This article has been designed to assist you, the insured, in becoming a more
informed consumer, as well as to serve as a step-by-step outline on obtaining a
workers' compensation policy.
When starting the process of acquiring workers' compensation, it's beneficial
to have all the necessary information readily available. This information should
include:
1. Current workers' compensation policy.
2. Projected payroll for the next 12 months.
3. Job descriptions for each employee.
4. Loss-run statement - trailing three to five years from current carrier.
The first part of an application is general information, such as your company
name, address and federal employer identification number. The next section,
locations, provides the carrier knowledge of where your company has operations.
For example, ABC Avionics maintains a small hangar at the local airport
where troubleshooting on the aircraft takes place. However, there also is a
warehouse utilized for bench testing, calibration of flight instruments, and storing a vast supply of indicators for resale. Both locations have workers, so both
addresses should be included on the application.



http://www.aviationsolutions.aero

Table of Contents for the Digital Edition of Avionics News December 2015

Avionics News December 2015 - Intro
Avionics News December 2015 - Cover1
Avionics News December 2015 - Cover2
Avionics News December 2015 - 1
Avionics News December 2015 - 2
Avionics News December 2015 - 3
Avionics News December 2015 - 4
Avionics News December 2015 - 5
Avionics News December 2015 - 6
Avionics News December 2015 - 7
Avionics News December 2015 - 8
Avionics News December 2015 - 9
Avionics News December 2015 - 10
Avionics News December 2015 - 11
Avionics News December 2015 - 12
Avionics News December 2015 - 13
Avionics News December 2015 - 14
Avionics News December 2015 - 15
Avionics News December 2015 - 16
Avionics News December 2015 - 17
Avionics News December 2015 - 18
Avionics News December 2015 - 19
Avionics News December 2015 - 20
Avionics News December 2015 - 21
Avionics News December 2015 - 22
Avionics News December 2015 - 23
Avionics News December 2015 - 24
Avionics News December 2015 - 25
Avionics News December 2015 - 26
Avionics News December 2015 - 27
Avionics News December 2015 - 28
Avionics News December 2015 - 29
Avionics News December 2015 - 30
Avionics News December 2015 - 31
Avionics News December 2015 - 32
Avionics News December 2015 - 33
Avionics News December 2015 - 34
Avionics News December 2015 - 35
Avionics News December 2015 - 36
Avionics News December 2015 - 37
Avionics News December 2015 - 38
Avionics News December 2015 - 39
Avionics News December 2015 - 40
Avionics News December 2015 - 41
Avionics News December 2015 - 42
Avionics News December 2015 - 43
Avionics News December 2015 - 44
Avionics News December 2015 - 45
Avionics News December 2015 - 46
Avionics News December 2015 - 47
Avionics News December 2015 - 48
Avionics News December 2015 - 49
Avionics News December 2015 - 50
Avionics News December 2015 - 51
Avionics News December 2015 - 52
Avionics News December 2015 - 53
Avionics News December 2015 - 54
Avionics News December 2015 - 55
Avionics News December 2015 - 56
Avionics News December 2015 - 57
Avionics News December 2015 - 58
Avionics News December 2015 - 59
Avionics News December 2015 - 60
Avionics News December 2015 - 61
Avionics News December 2015 - 62
Avionics News December 2015 - 63
Avionics News December 2015 - 64
Avionics News December 2015 - 65
Avionics News December 2015 - 66
Avionics News December 2015 - 67
Avionics News December 2015 - 68
Avionics News December 2015 - 69
Avionics News December 2015 - 70
Avionics News December 2015 - 71
Avionics News December 2015 - 72
Avionics News December 2015 - Cover3
Avionics News December 2015 - Cover4
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