Are PEOs required to submit a form of securitization to cover the workers compensation liabilities of the client employer?
4A. Yes. PEOs are required to submit securitization and must identify the type of securitization provided to BWC on their registration form. PEOs have several forms of securitization to choose from including: a bond or Letter of Credit; Certification from a BWC-approved institution; or the BWC online monthly payment method. BWC will calculate the amount of securitization required for each PEO policy per calendar year based on the most recent two periods of premium paid by the PEO policy.
Related Questions
- Do PEOs have to obtain a power of attorney for all of their client companies? How do they submit the information to Employment Security?
- Are PEOs required to submit a form of securitization to cover the workers compensation liabilities of the client employer?
- How do PEOs notify Employment Security when a client company joins or leaves the PEO? Is there a form?
