What is considered payroll/remuneration?

Premiums for professional liability (E&O) insurance are based on payroll, which is defined as total remuneration for services performed by an employee. In most states, remuneration means money or substitutes for money, including:

• Wages/salaries

• Bonuses

• Commissions

• Overtime

• Vacation, sick, and/or holiday pay

• Tax-deferred payments (cafeteria or 401(k) plans)

• Rental value of an apartment or house furnished by the employer

• Car or tool allowances

• Any other substitutes for wages (such as store certificates, merchandise, etc.)