Madison Insurance Group: Colorado Workers Comp ...

As a contractor or any other employer in Colorado there are workers compensation laws that determine if premium should be paid for what the state considers an employee.?? Below is a summary of what to consider when hiring and during your workers compensation audit.??

Any individual working for your company is considered an employee unless there is documentation to show that he/she is either an insured subcontractor or a qualifying independent contractor (IC). During the audit, failure to obtain the proper documentation could result in premium being assessed. Below is information regarding the documentation you need to obtain:

Subcontractors
If you use subcontractors who have employees or pay individuals on a contract basis you will need:
* A certificate of workers' compensation insurance valid during your policy period.

Independent Contractors
According to the Colorado Workers' Compensation Act an individual must be engaged in an independent trade, occupation or business and be free from direction and control in the performance of the service to qualify as an IC. This status applies to one individual and will not apply to any tiers or layers of contracted individuals. The following documentation will assist in the determination of IC status:
* Pinnacol independent contractor form completed and submitted to Pinnacol.
* A certificate of general liability insurance, valid during the period work was performed.
* Invoices submitted on the independent contractor's form.
* Contracts or bids between your company and the independent contractor.
* Partnership, LLC, or corporation documents if the entity has no employees and the owners are working and claiming independent contractor status.
*Additional documents may be requested to verify independent contractor status.?

If you have any questions, please feel free to contact Madison Insurance Group at 1-800-636-6185 or info@madisoninsurance.net.

Thank you for your time.

The Madison Insurance Team

www.madisoninsurance.net

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Source: http://madisoninsurancegroup.blogspot.com/2013/01/colorado-workers-comp-subcontractors.html

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