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The National Council on Compensation Insurance (NCCI) is a U.S. insurance rating and data collection bureau specializing in workers' compensation. Operating with a not-for-profit philosophy and owned by its member insurers, NCCI annually collects data covering more than four million workers compensation claims and two million policies. The ...
The IRS has indicated it will use the Form 990 as an enforcement tool, particularly regarding executive compensation. For example, nonprofits that adopt specific procedures regarding executive compensation have a safe harbor from excessive-compensation rules under section 4958 of the Internal Revenue Code and Treasury Regulation section 53.4958-6.
Remote injury. Workers get injured away from work, but say they were hurt on the job so that their workers' compensation policy will cover the medical bills. Inflating injuries. A worker has a fairly minor job injury, but lies about the magnitude of the injury in order to collect more workers' compensation money and stay away from work longer.
For this reason it is prudent for any non-profit to obtain liability insurance. Non-profits which have paid staff must comply with minimum wage laws, and with the requirement in most states to obtain workers compensation insurance. Churches and religious non-profits are something of a special case, because the First Amendment to the U.S ...
Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The trade-off between assured, limited coverage and lack of ...
The UEBTF is funded by a small tax on every Workers' Compensation policy that is written, and the UEBTF typically places liens on assets of the uninsured employers until the debt is repaid. To do so, a Special Notice of Lawsuit must be properly served upon the uninsured employer to give the UEBTF legal jurisdiction for the recovery.
Minneapolis-based Fairview's recent string of operating losses didn't stop its chief executive from receiving nearly $1.4 million in annual bonus and incentive pay in 2022. The pay matches a ...
For example, in 1926, an insurance industry spokesman noted that a bakery would have to buy a separate policy for each of the following risks: manufacturing operations, elevators, teamsters, product liability, contractual liability (for a spur track connecting the bakery to a nearby railroad), premises liability (for a retail store), and owners ...