Employer Must Pay Promissory Note for Unpaid EquityComp Premiums

A federal trail court judge last week ruled that a New Jersey staffing company has to cough up $166,202.65 in past-due workers’ compensation premiums to Applied Underwriters Inc. Applied Underwriters markets a workers' compensation program called EquityComp. The program is advertised as a multi-year, profit-sharing loss-sensitive program, but it has drawn criticism and complaints in multiple states by disgruntled customers who didn’t realize the savings they had expected. Top's Personnel bought an EquityComp policy from Applied in 2011. At first, Top's monthly premium...