Peloton Insurance Brokers is licensed to provide insurance services in California, Nevada, and Texas. We are exploring opportunities in other states and will update our clients accordingly.

Peloton Insurance Brokers collaborates with A-rated carriers known for their financial strength and reliability. This ensures that we can provide consistent and high-quality service, even if a carrier exits the market.

Peloton Insurance Brokers currently offers a broad form of coverage tailored to each specific Industry. And of course we also provide a list of recommended coverages available to your industry.

Depending on your business we provide policy services for: Professional Liability (Errors & Omissions), General Liability, Workers Compensation, Business Personal Property Policy, Non Owned and Hired Auto, Cyber​ Liability, Directors & Officers, Crime/Fidelity, ERISA, Travel Coverage (medical and accident), and a wide range of Bonds.

Workers' compensation insurance is administered by state agencies, which ensure compliance with workers' comp laws, collect accident information, and make case decisions. In California, this information is managed by the Workers Compensation Insurance Rating Bureau (WCIRB). When you purchase a workers' comp policy, each service is classified into a class code with a base rate. The premium is estimated and adjusted after an audit at the policy's expiration to confirm actual payroll and proper classification. The premium calculation involves several factors, including payroll, class code base rate, credits or debits, and Experience Modification Rate (if applicable).

Depends, some General and Professional Liability Policies, can be audited (in CA most policies are usually not, except certain risks, usually manufactures, construction and similair businesses).

Workers' Compensation, on the other hand is audited, because the policy is based on payroll and different classes within your business, and to ensure that the premium your were charged is a correct and fair premium.

Class codes are used to ensure that businesses are classified correctly and charged the appropriate premium. This classification helps carriers report workers' compensation information to the relevant bureau, such as the Workers Compensation Insurance Rating Bureau (WCIRB) in California. Accurate classification prevents overpayment and ensures fair premium calculation. For more information, visit the WCIRB website at https://www.wcirb.com/.

An Experience Rating Modification is a unique rating factor assigned to your business. Insurers use it to compare your claims and payroll history to similar businesses, adjusting your insurance pricing based on actual and expected losses. For example, if your rate is $5.00 and your Experience Modification is 0.70, your new rate would be $3.50. A rate under 1.00 is a credit, while over 1.00 is a debit. Businesses operating for less than a year don't have this rate. Ask your broker to confirm your Experience Modification and see your rating sheets.

All our carriers require us to submit a complete application to them, or they will turn us down for a proposal if we do not have all the required info needed to provide you with comparatible pricing.

A full submission usually consits of:

A completed Acord Work Comp App, (provided and completed by your broker).

Loss runs (unless you are a new business), these let the carrier know if you have had any losses in the past or ongoing losses currently, (carriers will not quote without them).

Estimated number of employees Full Time and Part Time by Class Code, (i.e. office employees, versus employees who go out in the field are in separate class codes).

Total estimated payroll for all employees by class code.

Number of owners in the business and their percentage of ownership, and if they are included or excluded from coverage.

You may at times be asked to provide job desriptions for your emplyees and the nature of your business.

If you use sub-contractors, the carrier will want to verify if they carry their own workers' comp, if not some carriers will charge you an addtional premium against payroll paid to them. Ask your Broker about this.

Very important, if you have any employees go out of state or the country, you must let your broker know, the carrier needs to know because workers' comp laws vary state by state.

Once your broker has all this information they can then approach their carriers to obtain a comparative proposal.

In most states, including California, it is mandatory to purchase workers' compensation insurance to cover your employees. Failure to comply can result in penalties such as fines or stop-work orders. Additionally, you could face criminal charges, including misdemeanors or felonies, and potentially jail time. More importantly, if an employee is injured while you are not carrying the required workers' comp insurance, you would be responsible for all medical treatments, lost wages, and other benefits that the insurance would have covered.

Workers' Compensation covers medical care and lost wages for employees injured on the job. Each state has guidelines for treatment and payment, and many limit the duration of benefits for temporary disabilities. If an employee dies due to a work-related accident, their family may receive death benefits.

Liability Policies, general and professional are usually quoted based on your gross receipts. There are some occasions when it is quoted by your equipment or employees, that is usaully building contractors and manufactures and those policies are usaully audited also.

Yes, you can enhance your policy with endorsements, depending on your carrier. These additional coverages can broaden your liability policy. Since every business has unique risks, it's beneficial to tailor your coverage. Talk to your broker to review your risk areas and customize your policy.

Medical care businesses need combined General and Professional Liability policies because they face risks covered by both. General Liability protects against third-party lawsuits for bodily injury, property damage, and personal injury claims. Professional Liability, also known as malpractice or errors and omissions (E&O) insurance, covers claims of negligence or harm brought by patients or their families. This combined coverage ensures comprehensive protection for all potential risks.

A Certificate of Liability Insurance acts as proof of coverage. It is a single-page document that lists the different types of liability coverage you have and often includes workers' comp and at times includes endrosements you may have purchased.

At times as is with our clients, you may need to provide your certificate to sign client contracts that require a certain amount and type of liability insurance.

Yes, it is common for our clients and many other medical service providers to solicit contracts with other providers, i.e. nursing homes, city regional centers, or government agencies, that require you, once the contract is approved, to provide them with a certificate of insurance to show proof of financial responsibility, and may also require you to add them to your policy as an additional insured. This means they are seeking coverage from your insurance in the event of an incident. For example, you go to a nursing home and injure the patient, the family will sue you and the nursing home together for any neglegent acts. Since the nursing home did not contribute to the injury they will seek protection under your policy (this is called risk transfer), therefore making your policy the primary policy and theirs secondary if needed. They may request a primary and non contributory endorsement to accompany the certificate, your broker will advise you and request all documents required.

Typically upon binding coverage, you will be provided a certificate of insurance to show as proof to anyone asking, this usually serves as proof until you get your policy delivered.

Should you receive a request for a certificate with verbiage required by the requestor and they are requesting that the certifcate holder be added, please be sure to have them provide the certificate holder information and the exact verbiage they are requesting in writing from them. Then you can call your broker or email them with your request for a certificate of insurance and email the actual verbiage and holder information and your broker will then forward you a completed and signed certificate.

Many times the requestors will ask for an endorsement to be attached to the certificate, your broker will email the carrier for the endorsement and forward to you once received, we usually require a minimum of 48 hours notice for endorsements, since we have to request them from the carrier.