Your policy(ies) may be audited. At the end of the policy period, an audit may be conducted to determine the final premium that reflects your actual exposures. Your premium may be adjusted accordingly.
If you employ sub-contractors during the policy term, you must require that they provide you with a Certificate of Insurance which shows limits of coverage equal to, or greater than your own. Without proof of their insurance, you may be charged for them.
For Workers Compensation Coverage under Nevada State Law:
Sole Proprietors and partners are not automatically covered under the Act, but may elect coverage by attaching a letter stating the intent to elect. Payroll must be included for any persons electing coverage.
Compensated Corporate Officers are automatically covered, but may reject coverage by filing a written notice to the insurer. The rejection is effective upon receipt of the notice by the insurer.
Noncompensated corporate officers and members of limited liability companies are automatically covered, but may reject coverage. A written notice of rejection of coverage must be forwarded to the insurer.
Failure to file the appropriate notices for election or rejection status in accordance with state laws may result in additional premium being charged and collected by insurer.
Refer to the Department of Labor at: www.dirweb.state.nv.us/iirsform.htm for the most current rules, regulations, and forms.
Note: This information applies only to Nevada law. If additional states are to be covered, additional action may be necessary under applicable state law.
Blue Lotus Insurance Brokers, Inc.
8670 West Cheyenne Avenue
Las Vegas, NV 89129
7251 West Lake Mead
Las Vegas, NV 89128
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