One example of an independent contractor who presumably satisfies the proposed rule is an IT professional on retainer with an agency to provide IT-related services for several employees. The IT professional's main business is not insurance, so it should qualify as an independent contractor. (Credit: Pcess609/Adobe Stock)
Independent agency owners need to revisit how they identify independent contractors in light of the U.S. Department of Labor's proposed rule on employee classification, which will rescind its 2021 rule. Although RIN 1235-AA43 is not yet finalized, the period for public comment ended on Dec. 13, 2022.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
