My premium basis is not based on gross sales. Why do we need to provide gross sales/receipts/revenue information?
In some cases, gross sales are a factor in determining the premium for a policy, and they may also be used to determine eligibility within our various insurance programs. For example, the amount paid to subcontractors can’t exceed a certain percentage of gross sales in order to be eligible for certain policies.
Regularly determining gross sales is a way to make sure you have coverage under the correct policy. Your information will be protected in accordance with our Customer Privacy Statement.