Why Do the Limits on a Workers Comp Policy Matter?
Question from a Big I NY member: Hi Tim. Work Comp question for you. How come some policies have different limits shown than others? Work comp is unlimited isn’t it? I never really had a good answer on this issue.Answer: By “limits,” I assume you mean the Employers Liability Limits shown in Item 3.B. in the Declarations. It is true that, for most employments, Employers Liability Insurance is unlimited in New York. The NY WC manual states that endorsement WC 31 03 08, New York Limit of Liability Endorsement, must be attached to all policies that list New York under Item 3.A. in the Declarations.…