Puerto Rico State Insurance Corporation Issues 2020-2021 Risk Classification Manual With Important Modifications

On July 1, 2020, the Puerto Rico State Insurance Fund Corporation ("SIF") announced the automatic extension of the deadline for employers to file the Payroll Statement for fiscal year 2020-2021, from July 20 to August 4, 2020. The SIF is the government agency that provides workers' compensation benefits in Puerto Rico. As previously discussed, to obtain proper insurance coverage, an employer must consider all risks associated with its operations on its payroll statement and must pay the corresponding premiums in a timely manner. The SIF also published the Risk Classification Manual ("Manual") applicable for this payroll year, which includes significant modifications that are of particular interest to those employers that plan to have employees telework during this policy year.