877.256.1411 arp@superiorpoint.com
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Common questions header

Policy changes for Superior Point customers

 

I changed my company name. How do I change it on my policy?

Complete an ERM-14 form. Then, fax or email the form. In some cases the form needs to be sent to the Minnesota Workers’ Compensation Insurers Association (MWCIA) for a ruling before the change is made. Check with your agent.

 

How do I change the entity of my business? For example, I was a sole proprietor and now I am an LLC.

Complete an ERM-14 form. Then, fax or email the form. In some cases the form needs to be sent to the Minnesota Workers’ Compensation Insurers Association (MWCIA) for a ruling before the change is made. Check with your agent.

 

I have a new Federal Employer Identification Number (FEIN). How do I change it on my policy?

Complete an ERM-14 form. Then, fax or email the form. In some cases the form needs to be sent to the Minnesota Workers’ Compensation Insurers Association (MWCIA) for a ruling before the change is made. Check with your agent.

 

How do I change ownership? For example, I owned 100% of my business and just sold 50%. Now we have two owners that each own 50%.

Complete an ERM-14 form. Then, fax or email us the form. In some cases the form needs to be sent to the Minnesota Workers’ Compensation Insurers Association (MWCIA) for a ruling before the change is made. Check with your agent.

 

How do I get a waiver of subrogation endorsement?

A waiver of subrogation form must be completed first and fax or emailed along with a signed contract. Only one name can be listed on the waiver of subrogation and no additional wording can be added. Superior Point has seen additional wording added to the request form, which consequently was denied. Examples of additional wording includes: subsidiaries, affiliates and parent companies.

NOTE: The Minnesota Assigned Risk Plan only offers job specific waivers of subrogation. The work must be completed in the State of Minnesota as your policy is a Minnesota-only policy.

For policies effective April 1, 2014 and later, the subrogation endorsement will generate an additional premium charge of 5% of the payroll for the specific job times the appropriate classification rate(s), divided by 100; subject to a minimum premium of $100.

 

How do I get workers’ compensation coverage for myself, spouse, parent or child?

Complete an election of coverage form if you are a sole proprietor, partnership, closely-held corporation or small LLC and fax or email it along with the annual salary information.

Owners of closely held corporations or small LLCs that own 24.9% or less of the company cannot be excluded from workers’ compensation coverage. Owners of non-closely-held corporations and large LLCs cannot be excluded from workers’ compensation coverage.

Only spouses, parents or children can be excluded from a workers’ compensation policy. Spouses, parents and children can NOT be excluded if they are related to an owner who owns 24.9% or less.

Other family members are automatically included in the workers’ compensation policy. Examples include in-laws, aunts, uncles, grandchildren, etc.

 

How do I cancel my policy?

To cancel your policy midterm, you must fax or email a signed written request or lost policy release ACORD form to Superior Point. Your agent can assist you with this form or the information required. Your policy will be cancelled the day the signed form is received.

To non-renew your policy, no action is required. If you do not pay the renewal, then your policy will not renew.