Stop gap coverage provides protection against allegations that an employer has not provided a safe work environment. While workers' compensation insurance pays for job-related injuries, employer's liability is a separate clause of the policy. It protects the employer from being held liable for worker injury or illness.

What is a stop gap coverage?

Stop gap coverage provides a form of employers liability insurance for employers who do not have the coverage because they operate in a so-called monopolistic state. Coverage for defense costs is typically included. Employers can buy stop gap coverage from private insurers.

What states require stop gap coverage?

You need only consider Stop Gap Coverage if your business operates in any of the four monopolistic states: North Dakota, Ohio, Washington, or Wyoming.

What is stop gap coverage in Ohio?

Stop gap coverage is designed to provide liability insurance for an employer who can be sued by an employee injured in the course of employment. ... However, such insurance is not offered under the workers comp program written in monopolistic workers compensation states, such as Ohio.

What does no stop gap mean?

Noun. stop-gap (plural stop-gaps) A temporary measure or short-term fix used until something better can be obtained. The small company uses their new product features as a stop-gap until they can develop a new product.

What Is Stop Gap Insurance? : Insurance Questions & Answers

33 related questions found

Who needs stop gap coverage?

Stop gap coverage protects business owners from lawsuits filed over workplace injuries. Business owners are protected from such lawsuits by employer's liability insurance, which is typically included in workers' compensation coverage.

What does gap coverage do?

Gap insurance is an optional car insurance coverage that helps pay off your auto loan if your car is totaled or stolen and you owe more than the car's depreciated value. ... Gap insurance helps pay the gap between the depreciated value of your car and what you still owe on the car.

How do I remove gap insurance?

Contact the dealer's gap lease or loan insurance provider

Reach out to the group you're currently insured under and ask them what steps are required to cancel your gap policy. They may require you to provide written notice of your intent to cancel, but you may be able to scan and email or fax your request.

Is it stopgap or stop gap?

something that fills the place of something else that is lacking; temporary substitute; makeshift: Candles are a stopgap when the electricity fails.

What is the definition of stop gap?

: something that serves as a temporary expedient : makeshift stopgap measures.

What is stop-gap insurance for new cars?

Gap insurance is an optional insurance coverage for newer cars that can be added to your collision insurance policy. It may pay the difference between the balance of a lease or loan due on a vehicle and what your insurance company pays if the car is considered a covered total loss.

Is Ohio monopolistic state?

The Ohio Bureau of Workers' Compensation

The primary difference between Ohio and most other states is that Ohio is a monopolistic state. Only Ohio, Washington, Wyoming and North Dakota operate state-monopolized BWC markets.

Where does the term stop-gap come from?

stopgap (n.)

also stop-gap, 1680s, from stop (v.) + gap (n.); the notion probably being of something that plugs a leak, but it may be in part from gap (n.) in a specific military sense "opening or breach in defenses by which attack may be made" (1540s). Also as an adjective from 1680s.

What employee benefits liability covers?

Employee benefits liability (EBL) is insurance that covers businesses from errors and omissions that occur when employee benefit plans are administered. ... EBL insurance covers a wide range of plans, including health, dental and life insurance, profit-sharing plans, workers' compensation, and employee stock plans.

What does foreign voluntary workers compensation cover?

What is Foreign Voluntary Workers' Compensation? FVWC provides coverage for employees working outside of their home country. It provides bodily injury by accident/disease or repatriation, arising out of and in the course of employment outside of the employee's home country.

What is voluntary compensation endorsement?

Voluntary Compensation Endorsement — enables an employer to extend the benefits provided by the workers compensation act to employees who may not be entitled to benefits under the terms of the act, such as executive officers, partners, sole proprietors, farm workers, domestic employees, or employees traveling overseas.

What is another word for stop gap?

Some common synonyms of stopgap are expedient, makeshift, resort, resource, and shift. While all these words mean "something one turns to in the absence of the usual means or source of supply," stopgap applies to something used temporarily as an emergency measure.

What does Rough and Ready?

rough-and-ready in American English

1. rough, rude, or crude, but good enough for the purpose. a rough-and-ready estimate of future expenses. 2. exhibiting or showing rough vigor rather than refinement or delicacy.

What is the meaning of encampments?

1a : the place where a group (such as a body of troops) is encamped. b : the individuals that make up an encampment. 2 : the act of encamping : the state of being encamped. Synonyms Example Sentences Learn More About encampment.

Do I need gap insurance if I have full coverage?

Yes, you need gap insurance if you have full coverage and still owe money on a car loan or lease. Gap insurance is needed even if you have full coverage because full coverage does not cover the difference between what you owe on a loan/lease and the car's actual cash value, like gap insurance does.

Do I get money back if I cancel my gap insurance?

Typically, you should get a full refund on your GAP insurance if you cancel the contract within 30 days of purchasing the policy, though cancelation fees may apply.

Can I take out gap insurance after 12 months?

Often people delay buying a GAP policy thinking that they have cover for twelve months and want to buy after the insurers “free” period expires. Unfortunately the result is that by waiting twelve months you exceed the buying term of 180 days resulting in not being able to buy the GAP policy at all.

Does gap insurance help with down payment?

Gap insurance does not cover: car payments in case of financial hardship, job loss, disability or death. ... a down payment for a new car. carry-over balances on any loans you rolled over into your new car loan.

Does gap insurance help you get another car?

You can add both New Car Replacement Coverage and GAP Coverage to your policy. Or, you can add New Car Replacement Coverage only to your policy. You can't purchase GAP Insurance Coverage without buying New Car Replacement Insurance.

What happens if I total my car and still owe money on it?

Here's the bad news: if you have a loan or lease out on a totaled car, you're still responsible for paying off the remaining balance. Usually, the insurer pays the lender or leaseholder first and gives you the rest of the settlement money if there's any leftover.