Frequently Asked Questions - Virginia
Q: When is this Program effective?
A: The Program is effective April 25, 2011 for new and renewal business.
Q: Will EMPLOYERS® automatically move current NFIB renewals into this new program?
A: No. Existing members must ask to be moved into the Program. NFIB members that are already insured with EMPLOYERS may be participating in one of several other programs available through EMPLOYERS. NFIB members must choose which program is best for them.
Q: Will all NFIB member accounts qualify for the NFIB Workers’ Compensation Program?
A: No, only those businesses that are within EMPLOYERS’ risk appetite will be eligible for the Program. All applicants are subject to EMPLOYERS’ underwriting guidelines. Membership in NFIB does not guarantee coverage. Please ask your EMPLOYERS Sales Executive for a copy of the Virginia appetite guide.
Q: How do businesses who are not members of NFIB access this Program?
A: Businesses who are not NFIB members can access this Program through one of our independent insurance agents. To find an agent in your area, call (866) 563-2759. You are required to be a member of NFIB at policy inception to be eligible for the Program dividend. To learn more about joining NFIB, go to www.joinNFIB.com or call 800-NFIB-NOW.
Q: Do businesses located outside of Virginia qualify for this program?
A: Yes, please visit the EMPLOYERS website at http://www.employers.com/nfib/index.aspx to find out where the NFIB Workers’ Compensation Program is available.
Q: What is the minimum premium? Maximum premium?
A: The minimum premium is $500. There is no maximum premium.
Q: What does it cost to join the NFIB?
A: Businesses who join to seek participation in the NFIB Workers’ Compensation Program can join at the current minimum introductory rate membership fee by joining online at www.joinNFIB.com and using VAWC as the “Reference Code.” Current NFIB members are not eligible to receive the introductory rate.
Q: What other benefits does an NFIB membership provide?
A: An NFIB membership assists in saving 20%-40% off workplace travel with the NFIB Hotel Card, save 10% on payroll and tax filings with NFIB payroll, invitations to small business webinars and access to free legal guidance and information.
Q: Are new ventures eligible for the Program?
A: Yes. They will be considered for the Program.
Q: Does a small business have to be a member of NFIB for the duration of the policy term to receive the flat dividend of 5%?
A: Yes. However, dividends cannot be guaranteed and are declared at the option and sole discretion of EMPLOYERS’ applicable board(s) of director(s). All dividends are evaluated after the completion of the final premium audit, using discounted audited premium. A policyholder will be ineligible for a dividend if the policyholder does not cooperate with EMPLOYERS in determining the additional or unearned premium upon final audit prior to evaluation. Dividends will be reduced and offset by any monies due and owing for workers’ compensation insurance to EMPLOYERS by the policyholder, and EMPLOYERS shall have the right to recoupment for any such sums. Any dividend payable shall be paid no less than sixty (60) days after evaluation.
Q: What is the benefit of the NFIB Workers’ Compensation Program?
A: Members who purchase workers’ compensation coverage through the Program shall be eligible to receive a potential flat dividend of 5% of premium in addition to any applicable dividends or discounts offered from time to time by EMPLOYERS in Virginia.