Masonry Magazine January 1967 Page.21
insurance for contractors
SECOND EDITION
Revised to include the new policy forms and entirely new material on: Contract Bonds, Architects' and Engineers' Professional Liability, Contractors' Equipment Floaters, Builders' Risk Insurance, Employee Benefit Liability, Uniform Hold-Harmless Clauses, Composite Rating.
by Walter T. Derk, Assistant Vice President, FRED. S. JAMES & Co. Insurance Brokers and Consultants Since 1858
With this installment we conclude our series on Insurance For Contractors. We hope that each member and reader of MASONRY has taken the time to study these articles and placed them in their business files for future reference. Should you have specific questions relative to insurance we invite you to direct your inquiries to Mr. Derk, Insurance Consultant, MCAA's headquarters in Chicago.
PAYROLL AUDIT PROCEDURES
Your insurance representative is able to save you an enormous amount of time, and perhaps premium, by arranging in advance the specific records which should be maintained for examination by insurance company auditors.
For example, an up-to-date list of maximum payroll limitations which apply under Workmen's Compensation and General Liability Policies should be made available and adhered to:
PAYROLL LIMITATIONS APPLICABLE
The following table indicates maximum weekly payrolls required to be reported to insurance company auditors for Workmen's Compensation and General Liability.
| State | Workmen's Comp. Employees | Executive Officers | General Liability Employees | Executive Officers |
| ----------- | -------------------------- | ------------------ | --------------------------- | ------------------ |
| Alabama | $300 | $300 | $300 | $300 |
| Alaska | 300 | 300 | 300 | 300 |
| Arizona | 1,000 (Mo.) | 1,000 (Mo.) | 300 | 1,000 (Mo.) |
| Arkansas | 300 | 300 | 300 | 300 |
| California | No Limit | 300 | 300 | 12,000 (Yr.) |
| Colorado | 100 | 5,200 (Yr.) | 300 | 3,600 (Yr.) |
| Connecticut | 300 | 300 | 300 | 300 |
| Delaware | No Limit | 200 | 300 | 100 |
| D. C. | 100 | 100 | 100 | 100 |
| Florida | 100 | 100 | 100 | 100 |