November 4, 2013
Vol. 1, Ed. 2


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Nevada Work Comp Payroll Cap
  
There are 46 states in the U.S. that have a privatized work comp system.  Nevada is the only one that caps work comp payroll at $36,000 per employee per year.  Unfortunately, most insurance carriers and 3rd party auditing companies use standardized national audit reporting forms that do not remind the policyholder of this payroll cap.  This often results in over reported payroll figures that generate an additional premium billing.  The audit then has to be disputed and quickly corrected (re-filed) when this happens.  To prevent the extra work this entails, we'd gladly review your audit for accuracy before submitting to the insurance company.  Please don't hesitate calling us if you'd like assistance completing your audit or like us to review prior to submitting the figures.  If you are well seasoned in audit reporting or don't need any assistance, please make sure to check the box on the audit forms that allows the insurance company to release the audit paperwork to our agency.  This allows us to verify to payrolls reported on the audit summary issued by the insurance company.

Loss Control

With the insurance industry market conditions tightening, it is as important as ever to have a formal loss control program in place.  The so called appetite for insurance companies shrinks during a hard market cycle, such as the one we are entering.  Risks (businesses) with the most appealing characteristics get the most attention and the best pricing.  A solid loss control program will not only reduce the potential for claims and the future costs associated with them, but it will also make your business more appealing to the insurance company underwriters looking at covering it.  It can be the difference between a quote and a declination, a modest rate change or significant increase.  Most insurance carriers have free resources available to their policyholders that will assist in implementing a new loss control program or updating a current one.  Please contact Wilkins & Associates if you'd like to obtain more information.

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Rental Car Damage Waiver
Do You Know the Potential Costs Without It?

The costs of purchasing the rental car damage waiver is significant and downright frustrating.  Unfortunately, many customers assume damage to the rental vehicle is covered by their credit card benefits or their auto insurance policy.  Do you know though what is actually covered and what isn't?  More importantly, do you know your potential out-of-pocket costs that aren't covered?  The answer may surprise you and make the cost of the damage waiver more cost effective than you currently think.  Click here to find out more.



Wilkins & Associates Insurance Services, Inc.
140 West Huffaker Lane, Suite 508
Reno, NV  89511
(775) 827-3939 Office   (775) 827-6677 Fax