Calif. Department of Industrial Relations Reminds Real Estate Industry of WC Needs
The California Department of Industrial Relations (DIR) is reminding the real estate industry regarding workers’ compensation coverage.
California requires real estate brokers to provide workers’ comP coverage for their real estate sales agents. If an agent of an uninsured broker is injured and cannot collect the workers’ comp benefits to which they are entitled through the broker’s policy, the agent receives benefits from the Uninsured Employers Fund (UEF). The UEF would, in turn, make every attempt to collect from the broker.
In addition, when an investigation is conducted by the Division of Labor Standards Enforcement and it is determined that an employer is illegally uninsured, then that employer may be liable for up to $100,000 in penalties.
All uninsured employers in the real estate industry are urged to immediately obtain workers’ comp coverage either through the state-recognized self-insurance program or through a carrier recognized by the California Department of Insurance (CDI).
- Trump Set to Sign AI Cybersecurity Directive as Soon as Thursday
- The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’
- Adapting Claim Investigations for AI-Driven Fraud
- California Fire Spread Slows But Dangerous Conditions Linger
- The Adjuster’s Year Ahead: What AI Will and Won’t Change About the Job
- Ransom Attacks up, but Payments Headed Down as Cyber Becomes Top of Mind
- ‘Big Tobacco’ Moment for Cannabis: What Insurers Need to Know About Murray v. Cresco
- AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You