A WC market for PIA members

Underwriting Guidelines (New Jersey):

Classes are subject to minimum premiums, depending on the carrier and the class code
You need to provide a detailed description of the business operations (web site address and/or a business brochure would be helpful)
Depending on the risk and the carrier, loss runs may be required
Backdating is not allowed - Effective date will be the date that the application (plus any additional requested information) is received at PIA or a later date
The carriers may review Dunn and Bradstreet reports and will decline the risk if they deem the Insurance Score as unacceptable

New business ventures - field experience and a description of that experience must be provided in order for the risk to be considered (select carriers)
Contractor Risks
• Chartis (formerly AIG): Minimum Premium $10,000
• Alternate A+ Carrier: $1,000 Minimum Premium for Select Artisan Contractors
  
• Number of Employees
  • Tower: at least 1 employee, maximum 50 employees, cannot be all family members
  • Chartis (formerly AIG), Alternate A+ Carrier: at least 1 employee
  • AmTrust North America: at least 1 full time employee in addition to owners/officers
    
• New Business Ventures
  • 2-3 years of field experience required, reviewed on a case by case basis for all eligible carriers
  • For new venture policies, a brief résumé of the insured's prior experience in the field is required at binding
    
• Delivery Exposure
  • Tower: maximum 20% delivery
  • Alternate A+ Carrier: maximum 15% delivery
  • Chartis (formerly AIG): no maximum, reviewed on a case by case basis
  • Most other carriers 50% maximum, subject to underwriters review
    
• Driving Exposure
  
  • Alternate A+ Carrier: Requires drivers’ information at binding (names, date of births, license numbers, and states)
    
    
    

Specific Carrier Guidelines:

Chartis (Pay-as-you-go option available—click here):

• NJ risks must be experience rated; proof of experience rating required (No New Ventures)
  
• Maximum Experience Mod is 1.79 in most states (subject to underwriting)
  
• All class codes and phraseologies must be eligible
  
• No placement services or temporary agencies
  
• 24-hour operations must have prior Worker’s Comp coverage (subject to restrictions)
  
• Multi-state operations are eligible as long as all states are applicable in the program
  
  

Alternate A+ Carrier:

• Fully completed Acord 130 with detailed description of operations required for submission
  
• 3 years current and detailed loss runs required for risks with debit experience mods 1.10+
  
• All class codes and phraseologies must be eligible
  
• Contracting risks require 3+ years in business under same name/ownership; subject to underwriters review and approval
  
• Managed Care credits available upon request and completion of form
  
• No placement services or temporary agencies
  
• No seasonal operations, with exception of Landscaping operations
  
• No non-profit organizations
  
• No 24-hour operations
  
• No Credit Unions
  
• No Boat Rental
  
• No Recycling Centers
  
• No Airport exposures
  
• No operations which include too much over-the-road exposure
  
• *This carrier will only write operations located in the 5 boroughs on a case by case basis (Manhattan, Queens, Bronx, Brooklyn, or Staten Island)
  
  

Tower:

• All class codes and phraseologies are eligible
  
• Minimum payrolls: Full-time $15,000 Part-time $7,500
  
• Must have at least 1 non-family member employee
  
• Premiums over $10,000 require loss runs
  
• Modifications greater than 1.00 should be accompanied by loss runs
  
• Premiums over $25,000 may be eligible for credits
  
• Self-service gas stations are eligible
  
• Maximum of 50 employees, exceptions are subject to underwriting approval
  
• Insured’s business must be open and fully operational, any renovations conducted must be completed prior to binding
  
• Delivery exposures must not exceed 20% of total payroll
  
• Child Day Care operations are eligible
  
• No placement services or temporary agencies
  
• No seasonal operations
  
• No 24-hour operations, exception is for Diners, Hotels, and Apartments
  
• No Credit Unions
  
• No Boat Rental
  
• No Recycling Centers
  
• No Airport exposures
  
• No operations which include too much over-the-road exposure
  
• No ‘family member only’ or ‘Executive Officer only’ risks
  
• No Liquor Stores or Gas Stations open after 10pm
  
• No risks open after 12am
  
• No Adult Day Care Centers
  
• No group transportation
  
  

AmTrust North America (Pay-as-you-go option available—click here):

• Complete ACORD 130 application , must be within 120 days of policy inception
  
• Application must have at least 1 full-time employee in addition to officers, partners, or owners
  
• Debit mods require 3 years of loss history, details of what drove the mod required
  
• Maximum height - 2 stories or 30 feet
  
• Maximum use of subcontractors - 50%. All subs must provide proof of workers’ comp coverage; if not, we will include and charge premium for them
  
• Out of country travel requires an explanation as to countries, frequency, duration, and how many covered employees are involved. Excessive travel in relation to premium is a rejection.
  
• No 24-hour operations.
  
• No placement services or temporary agencies
  
• 3 prior years + current year loss runs required on premium >$15k. Otherwise, 3 years loss history is acceptable.
  
  

Amerihealth:

• Fully completed Acord 130 and 2-3 years current loss runs required upon submission
  
• New Ventures are ineligible
  
• Maximum experience mod is 1.25, can be higher subject to underwriters approval
  
• All debit experience modification accounts must be accompanied by 5 years of currently valued loss history
  
• No PEO or temporary employment agencies
  
• Supplemental applications as required per underwriters
  
• All risks are subject to carrier underwriting approval
  
  

• Alternate A+ Carrier - $1,000
  
• Tower - $1,000
  
• Chartis (formerly AIG) - $2,000 (non-contractors); $10,000 (contractors and truckers)
  
• Ameri-Health - $2,500
  
• AmTrust North America - $1,000

Billing and Payment Plans

Alternate A+ Carrier:

Financing of policies is not allowed for this carrier.

• Full Pay
  
• 2 Pay with 60% Deposit
• 3 Pay with 40% Deposit
• 4 Pay with 30% Deposit
• 10 Pay with 25% Deposit
  
  **A $6.00 per installment fee will be charged.
  

Chartis (Pay-as-you-go option available—click here):Billing Questions call 800-645-2259

• Premiums under $5,000 - Option A
• Premiums $5,000 to $10,000 - Option B
• Premiums $10,000 and over - Option C
• A late charge of $10.00 is applied to payments received after the due date.

Option A: Full Pay or 65% down with 1 installment
Option B: 50% down with 2 or 3 monthly installments or 30% down with 6 monthly installments
Option C: 20% down with 9 monthly installments or 15% down with 10 monthly installments

**A $5.00 per installment fee will be charged.

Tower: Billing Questions call 212-655-2181

• Premiums under $1,500
  Full payment required
• Installment Plan #1 - (3) Pay Plan
  (minimum premium $1,501.00)
  30% due at inception of policy
  35% due (60) days after inception
  35% due (180) days after inception
• Installment Plan #2 - (4) Pay Plan
  (minimum premium $5,001.00)
  25% due at inception of policy
  25% due (60) days after inception
  25% due (120) days after inception
  25% due (180) days after inception
• Installment Plan #3 - (6) Pay Plan
  (minimum premium $5,001.00)
  25% due at inception of policy
  15% due second month
  15% due third month
  15% due fourth month
  15% due fifth month
  15% due sixth month
  
• A $10.00 per installment fee will be charged.
  

AmTrust North America (Pay-as-you-go option available—click here):

Billing Questions call 877-528-7878

• Pay in full
• 50% Down payment and one installment
• 40% Down payment and 3 quarterly installments (minimum premium of $1,000 required)
• 25% Down payment and 3 equal consecutive monthly installments (Requires annual premiums in excess of $1,000)
• 25% Down payment and 8 equal consecutive monthly installments (Requires annual premiums in excess of $2,500)
• 10% Down payment and 9 equal consecutive monthly installments (Requires annual premiums in excess of $2,500)
• 12 equal consecutive monthly installments (Requires annual premiums in excess of $600 and the use of direct debit)
  

• Premiums $1,000-$5,000:
  Full payment
  Semi-annual with 60% deposit
  
• Premiums $5,001 - $10,000:
  Full payment
  Semi-annual with 60% deposit
  Quarterly with 30% deposit.
• Premiums over $10,000:
  9 Pay with 20% deposit
  Monthly installments (requires underwriters approval).
  
  NOTE: There is a fee of $5 per installment