Check out this Insurance Requirement !!!

They want this for insurance:
Employers Liability $500,000 per occurrences
Commercial Auto $1,000,000 combined single limit on any vehicles and $1,000,000 property damage liability
$1,000,000 general liability with $2,000,000 aggregate
Company Endorsement
“Separation of Interest” Clause
Endorsement
Umbrella Coverage with $4,000,000 limit per occurrence in aggregate
Errors and Omissions $1,000,000 with $2,000,000 aggregate.

There is some other stuff they want too, but if I can’t provide this there is no need to worry about the other stuff.

I am a small women owned business. This is an insurance requirement for placing contractors at a company. I have come across similar ones. As a matter of fact, I bought insurance like this last year. First off it was next impossible to find a company to insure me unless I was already billing 10MIL + a year, and second it cost me to the tune of $20,000+ for the insurance. I don't know about you, but that is a lot to spend on insurance before you even close one deal with the company. The last company I signed up with for a deal like this required all of the insurance to be in place before they would even give me any job orders.

Comments please..... And by the way, if you can payroll me and provide all of this massive expensive insurance, let's talk, www.techreq.net.

Views: 15

Comment by pam claughton on June 1, 2009 at 9:35am
I would think that's your best bet, at least for this client, to use a payroll service that has the insurance. You'll make a little less, but you also won't have the headaches of collecting timecards or waiting for the company to pay.
Comment by Pamela Bovaird on June 1, 2009 at 10:38am
Thanks for the comment, Pam. They are asking for an extremely low mark-up. And, it is too low if I also have to payroll it, unless the payroll is really low?
Comment by pam claughton on June 1, 2009 at 2:26pm
Maybe it's not worth doing?
Comment by Pamela Bovaird on June 1, 2009 at 2:52pm
Yeah, that is what I am thinking.

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