Our New Fund Year Begins April 1, 2009

FUBA Workers' Comp (coverage provided through the Florida Citrus, Business & Industries Fund) has a common anniversary date of April 1st.  The Florida Insurance Code requires us to give 45 days' advance notice to policyholders who are being renewed by the Fund, and to those policyholders who do not meet our eligibility requirements and are being non-renewed. 

We mailed you a listing of your account(s) that we are offering a renewal policy and those we are non-renewing for the 2009-2010 Fund Year.  Policies bound 2/16/09 to 3/31/09 are automatically renewed for the 2009-2010 Fund Year and do not appear on this list.  Any policy that is eligible for a dividend will automatically be endorsed to one of the Dividend Reward Plans designated on this list.  Accounts as low as $1,500 qualify for our Seedling Plan, and our Tangerine Plan now includes accounts $5,000 and up!

As your insureds pay their renewal invoices, we will periodically email you updated lists showing which accounts have paid, along with your agency’s copies of their policies.  You may use these lists to issue Certificates of Insurance.  Insureds who do not pay their renewal invoice by the March 15, 2009 due date will be put into cancellation and their coverage will expire on March 31, 2009. 

If you have any policies that are not eligible for the 2009-2010 Fund Year renewal, we enclosed current loss runs, along with your agency’s copies of their non-renewal notice.  The coverage for these policies will terminate on March 31, 2009. 

We thank you for your business and look forward to serving you this year.

EXCITING NEWS! 15% Commission for all New Business Bound Continues

We are pleased to inform you that we are continuing to pay you, our valued agents, 15% commission for a full 12 months on all new business bound.  Our popular FUBA Rewards program will also continue for the new Fund Year.  Be on the lookout for a brochure detailing all the latest and greatest prizes!

How Contractors Can Be Protected From Uninsured Subs

Florida law makes contractors responsible for paying workers’ comp on all of their subs unless the subs have their own workers’ comp policy or have a valid exemption.  If a contractor does not carry workers’ compensation for his own business, not only can he be forced to pay out of pocket for these subs, but he will face heavy penalties from the state. Even if a contractor has workers’ comp insurance, we recommend he follows these steps to protect himself against uninsured subs.

The state Division of Workers’ Compensation (DWC) has a regulation that spells out what a general contractor needs to get from its subs in order to satisfy its obligation under Florida law to get evidence of either 1) a workers’ compensation policy or 2) an exemption from its subs.  Since Certificates of Insurance (COI) are so easily forged, the DWC requires extra documentation that corroborates the COI.

In summary, the state requires an uninsured contractor who hires subs to obtain the following:

1. If the sub is insured, the contractor must get a COI and “written documentation” from either the agent or carrier confirming the coverage.  “Written documentation” may include a screen print from the Proof of Coverage database.

2. If the sub is exempt, the contractor has to get a copy of the exemption or a screen print from the Proof of Coverage database confirming the exemption. 

The Proof of Coverage database is located at www.fldfs.com/wc.  Click on "Databases" on the left of the screen, then click on "Proof of Coverage Database." Users simply enter in the information to find the sub, and then select “File” and “Print” to print the screen showing proof of coverage or the exemption.
 
If the contractor does not get this documentation and your sub is uninsured, he will be liable for all the sub’s employees.   He will also be assessed a penalty and could have his company shut down by the state until he complies with Florida’s workers’ comp law. 

If you have any questions, please contact the FUBA Workers’ Comp offices at 888-262-4483 or fubawc@fubaworkerscomp.com.

Agency Spotlight

Fairchild, Addison & McKone Insurance, Inc.

Pictured [Back Row Left to Right]: Sara Tyree, Carole Tyree, Anna Patterson, Chris Bailey, Angela Griner, Brandy McKone, Kim Sanders [Front Row Left to Right]:  Liz McKone, Jim Fairchild, Donna Fairchild We are proud to have Fairchild, Addison & McKone Insurance take the Spotlight in this edition of FUBA in FOCUS.  Founded by Tampa native Jim Fairchild in 1979, they have grown into a full-line agency with state-of-the-art computer automation, employing a staff of ten well-trained professionals representing over 100 years of experience in the insurance industry.  Since joining FUBA in 2003, Fairchild, Addison & McKone has become one of our leading agencies. A family business now owned by Donna Fairchild, Laura Addison and Elizabeth McKone, the agency treats their customers like family too.  They take a personal interest in their clients and work hard to make certain they have the best possible coverage at the best possible price.    Although the agency writes insurance statewide, they tend to focus on central and northeast Florida, writing workers’ comp for mostly contractors and “Main Street” Florida businesses.  The agency also stays busy with their involvement in local churches and participation in community outreach programs. When asked, Fairchild, Addison & McKone tell us “the ease of writing business with FUBA is astounding.  Quote turn-around time is exceptional, as well as the timeframe for policy issuance.”  The agency’s Marketing/Sales Rep, Jim Harrison, is just as admiring of them.  “I have really enjoyed getting to know them and building a relationship,” he says.  “It’s nice to be working with such a wonderful group of people.”  FUBA Workers’ Comp agrees and hopes to continue that relationship with Fairchild, Addison & McKone for many years to come.

FUBA Fact

The Advisor - 2009 Guidebook to the FL Legislature