DATE (MM/DD/YYYY) WORKERS COMPENSATION APPLICATION AGENCY NAME AND ADDRESS COMPANY: UNDERWRITER: APPLICANT NAME: OFFICE PHONE: MOBILE PHONE: MAILING ADDRESS (including ZIP + 4 or Canadian Postal Code)
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Commercial Insurance Primer

So…you took your inheritance from Aunt Flo and built a new start-up company with several employees.  Congratulating yourself on your smarts, you bought commercial general liability insurance for your small business.  But, as you sat one night working late in your new office, you started to wonder…”what exactly does commercial liability cover? and what else does my small business need?”

While you were correct, general liability insurance is a key component of your insurance portfolio, there are several other kinds of insurance your business needs.  Following is a basic list of commercial insurance categories with links to the relevant application forms provided by Acord.  Acord is a nonprofit insurance industry organization that supplies standard forms, which help to increase efficiency and encourage compliance.  Using Acord 130 – Workers Compensation Application and in the event of an accident, Acord 4 Workers Compensation – First Report of Injury or Illness.

Professional liability – Acord 187 ensures against mishaps that may occur as you offer your opinion, solution, service or recommendation in the course of business.  Often used interchangeably with Errors and Omissions insurance – Acord 180, it is a form of liability insurance that helps protect professional advice- and service-providing companies from bearing the cost of defending against a negligence claim made by a client. The coverage focuses on alleged failure to perform, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are not covered by more general liability insurance policies which address more direct forms of harm.  The type of professional liability policy you apply for will sometimes depend on your profession.  To find out if there is a more specific form which applies to you, check Acord’s form index here.

Commercial Auto Insurance – Acord 137  Business liability coverage does not protect you against auto accidents – you need to purchase a separate auto policy to protect automobiles used by your business.  Many states will have state specific forms which is the same form title followed by the state abbreviation, for example, Acord 137 FL – Florida commercial auto insurance.

Property Insurance – Acord 140, provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as flood insurance, earthquake insurance, home insurance, or boiler insurance.

Business owner’s policy (BOP) – Acord 160, is a special type of commercial insurance designed for small and medium-sized businesses. By bundling general liability insurance and property insurance into a single policy, BOPs typically offer a reduced premium, which makes them a more cost-effective option than separately purchased policies.

Directors and Officer’s Liability – Acord 807, is what it sounds like: insurance payable to the directors and officers of a company as reimbursement for losses in the event of a legal action brought for alleged wrongful acts in managerial capacity. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well.

So now you have a basic commercial insurance primer, which can be supplemented depending on the specific needs of your business. Don’t stay up nights wondering if you are adequately covered.  Get started filling out Acord forms with PDFfiller and get some peace of mind for yourself!

Video instructions and help with filling out and completing acord 130 fillablepdffillercom

Today we are talking about how to fill out a cord of 130 FL for workers compensation they leave the applicants name which is goes on this box here their address which perfectly their mailing address would go in this box here you would then check the many years they've been in business actually put the number in if their individual partner corporation subchapter S or LLC you can check check other there drop-down putting their federal ID number in this box here then over here put in the locations if you have more than one location put them all in but then their actual physical locations but go in this box proposed data starting we could say you know 1219 we say is 12 18 2012 and of course expiration date would be 12 months after that same date if they're actually a rewrite you'd put their regular normal renewal date or anniversary date in this box here over here you're going to put in the amounts of limits they want the wanted 100 500 or you can go to 1 million so it could be 1,000,000 each one of these boxes the states that they're going to be in going here most that we write grove our family are in the state of florida so we just have forward in their down here is your class codes you'd actually for each class code that you would have then you put the class code in if you're a plumber or Mason and then you basically put in the information of what that is number employees estimated from last year an estimate for new year are they the new I said I'll leave this part here blank report this page you'll see that on this page we actually have where the officers go in so you'd actually put their name full name companies like Fubon want the social security number for most of my companies don't care about these two boxes of their title of their manager and president the amount of ownership is really important make sure you put in if they're 51 or 50 or 25 what their duties are now in florida you can be included or excluded if you're in construction that can file for fifty dollars an exemption to be exempt with the state after the net construction if you're an LLC owners cannot file an exemption class code for the owner and then they were another elimination for the payroll GRE covering them for there are standards in the industry some take 6500 tumble put in twenty five thousand each company has a different layout click over here then this box here you can put prior there's no priorities right none in there but if there is probably for the company and policy not name a number in the date the actual amount of written premium obviously if you'd add the mod put the one in but usually the insurance companies can figure this out of the room because they'll run the ncci number of claims amount paid and if his a reserves most of the time before you can get to this point you'll actually know if the claims are high if they are then you're looking for a different style policy which is a consent to rate down here put a little dialogue what they are what they do...