This resource contains helpful information for contractors such as documentation regarding construction risks, premium audits, hiring contract/subcontract labor, employee payments, and more.
Premium Audit Preparation Guide
We know that your business can change over time. The premium audit process allows LWCC to verify that you are being charged the appropriate amount for your policy based on changes or fluctuations in your business that may occur over the course of the policy period. An audit can result in an increase in premium, a premium credit to you, or no change at all. There are several different ways to complete a premium audit including in person, online, or over the phone. You can learn more about the different types of audits and how to prepare for them in our Premium Audit Preparation Guide.
Contract/ Subcontract Labor Explained
Contractors and subcontractors may play a role in your workforce. Ensuring that these outside sources of labor are covered by a workers’ compensation policy is critical. Subcontractors and certain independent contractors may be considered your employees if they are involved in the pursuit of your trade, business, or occupation or if they are performing manual labor. If these workers are uninsured and do not have their own workers’ comp coverage, you will be charged additional workers’ comp premium based on the contract price for their work.
If you are employing insured contractors or subcontractors, it is important to obtain their Certificates of Insurance (COI) to show proof of coverage. A COI verifies workers’ comp insurance coverage at the time the work was performed. These records must be kept and submitted at the time of the audit to ensure you are not charged premium for these workers.
The Workers’ Compensation Coverage Verification Tool can be used to verify active coverage for contractors or subcontractors. This is a free, public tool provided by the Louisiana Workforce Commission.
To learn more about Certificates of Insurance, click here.
You may also download a sample Certificate of Insurance here.
Cash Payment Log
It is preferable to pay employees, contractors, and subcontractors by check when possible. This provides an easily verified paper trail for the purposes of an audit. Should you choose to pay in cash, it is required that you keep a detailed cash log. This log must include information such as the payee's name, the last four digits of their social security number, the payment amount, description of services/duties, and the payment date.
For a complete list of details required for a cash log and to download a sample, click here.
Contractor Questionnaire
Your feedback allows us to deliver the best service possible. Our contractor questionnaire provides us with specific insights into the needs and operations of our clients in the construction industry. By taking a moment to complete this brief questionnaire, you can help us gather valuable information regarding audits, hiring subcontractors, paying employees, and more. Doing so will help us bring you the greatest value as an LWCC policyholder.
To complete the contractor questionnaire, click here.
Report a Claim
The fastest way to report your claim is through LWCC’s password-protected website, LWCC Interactive. Simply complete the information about the injury being reported, and we’ll do the rest.
Click here to learn more.
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