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Understanding Workers’ Compensation Underwriting Guidelines

If you are working with an underwriter to help make sure your agency clients have the right amount of workers’ compensation coverage, having a working understanding of the process and terminology can be a huge help. To get started, check out our Workers’ Compensation Sell Sheet.

Why the Multi-Tiered Carrier Approach?

At AmTrust Financial, we realize that every business has a unique structure and differentiated needs. So we provide workers’ compensation from a variety of affiliated insurance carriers to make it easy for you to provide flexible pricing options for a competitive advantage.

Learn about how we do workers’ compensation insurance at AmTrust on our blog now.
Here are our workers’ compensation carriers:
  • AmTrust Insurance Company of Kansas
  • Associated Industries Insurance Companies
  • First Nonprofit Insurance Company
  • Milwaukee Casualty Insurance Company
  • Security National Insurance Company
  • Sequoia Insurance Company
  • Technology Insurance Company
  • Wesco Insurance Company

How Policies are Submitted

AmTrust is actively working with new technologies to help make the underwriting process as easy as possible. Our submission process for workers’ compensation insurance policies is simple, effective, and flexible for your clients. AmTrust Bind Online is a virtual system that makes it easy for you to get same-day binding or coverage with little underwriting assistance. Here’s how it works:

  • You submit the required information online through AmTrust Bind Online.
  • The Direct Submit system will generate a quote based on the information provided and submit to an underwriter on our team.
  • The underwriter will review, verify the quote and get back to you.

What’s great about the AmTrust Bind Online system is that it works seamlessly with AmTrust Online, and that means that producers and policyholders can get easy access to claim details, policies, and payment options through the same portal. The online system is available 24/7.

Workers’ Compensation Underwriting Guidelines

While the guidelines for workers’ compensation underwriting may vary geographically, here are a few of the most common across the industry:

  • The policyholder must have at least one full-time employee. The owners of the company usually do not count.
  • The company must have fewer than 75 employees at any single location at the same time.
  • The company must be in business for more than one year and have had workers’ compensation coverage.

These guidelines are not all-inclusive or applicable in all states. New ventures and those companies who have had no prior coverage will also be considered. For more information, check out AmTrust workers’ compensation insurance for independent insurance agents on the AmTrust Financial website.

 

Insurance submissions are individually underwritten based on the applicable underwriting guidelines and not all submissions will qualify.  Coverage features, including rates and credits, may vary or may not be available in all states in accordance with state filings and applicable law.

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