Back Dating Policies

[Milkman1265]

Are these allowed by carriers?

specifically worker comp if you send in a letter that they wish to back date it more than 30 days BUT there is no loss and they will not claim a loss for those days they back date. And they will pay the additional premium for those missing days.

 

[Tucker444]

This would vary by Carrier.

For work comp I know known of my Carriers will backdate.

I am not sure any Carrier can backdate Work Comp.

No way 30 days.

 

[greatfish]

Back date Work comp, 30 days, not going to happen.

 

[whatsa]

It varies not just by company, but even by Underwriter. Either way, the only way anyone normally does it is with a so-called SNKORL (subject no known or reported losses). You will still have to justify WHY it is needed, but sometimes you can get it done.

 

[Bertolinoins]

I have never seen a WC carrier backdate a policy 30 days.

 

[Scottyj]

if you have the app in close to the effective date they will. I had AmTrust back date over 20 days but that was due to them being slow.

 

[Milkman1265]

yeah it was worth a shot to ask and try. basically what happen was the previous broker forgot to send them a bill or cancellation notices of any sort. they didnt receive any letters or notice of any sort (dont know if i believe them or not)

they lapse their work comp and now they are 37 days gap with 12 employees... the state wants to fine them 200 bucks a day for worker comp and 100 bucks a day for dbl so 300 bucks a day for 37 days.

they owe over 10k.

 

[whatsa]

Can the previous broker present proof that notice was sent? If not, I'd submit that the Insured has a good case to have the penalties waived or reduced

 

[Milkman1265]

it gets really technical and i rather not "help" the insured with this problem. because it was a state fund worker comp with another broker as a representative.

i already told them i can only offer advice on what i know but im not going to help on solving the issue between those 2. told them i'll be happy to place coverage for you for the current date but most likely the gap you will have to talk to state fund and your prior rep.

very sticky situation

 

[Bertolinoins]

Something doesn't sound right, bills and NOC's would not come through a broker, they would be mailed directly to the insured and the broker would be CC'd.