If-Any Workers Comp and WC for Startups

Jul 19, 2017

  1. JWP
    Offline

    JWP New Member

    Posts:
    10
    Likes Received:
    0
    I'm an agent in Michigan.

    Right now the carriers I work with won't write Workers Comp unless:

    A. Have had WC for the previous 3 years
    and
    B. Have employees

    Any carriers which don't have those requirements? Or just 1 of the requirements?

    A lot of self-employed subcontractors need WC in order to get a job from their general contractor. I addition to contractors, there are lots of other jobs where people need that policy (consulting, technicians etc)So I've been writing these policies through the State.
     
    JWP, Jul 19, 2017
    #1
  2. Mattrb72
    Offline

    Mattrb72 New Member

    Posts:
    6
    Likes Received:
    0
    Here in CA, there is maybe one other company besides our State program that will do this. But it usually very cheap on an if-any basis.
     
    Mattrb72, Jul 19, 2017
    #2
  3. 1reason
    Offline

    1reason Expert

    Posts:
    95
    Likes Received:
    0
    I'm limited in markets in MI, albeit usually my first thought is to place them in the pool. And when it comes to ghost policies, it isn't worth the time to do anything other than place the policy as quickly as you can so you can move on to something that will keep the lights on.
     
    1reason, Aug 1, 2017
    #3
  4. Web320
    Offline

    Web320 Expert

    Posts:
    37
    Likes Received:
    6
    State:
    Michigan
    In Michigan there are a lot of carriers that are cleaning up their books for contracting risks. Most of what is on the way out is non-w2 labor as well.

    We unfortunately do not write these risks either (checked with head of WC to be sure) so the state pool is likely your best avenue as 1reason stated.
     
    Web320, Aug 2, 2017
    #4
  5. jlanier
    Offline

    jlanier Super Genius

    Posts:
    133
    Likes Received:
    0
    This will help

    https://soleproprietorsolutions.com/programhighlights/?state=MI
     
    jlanier, Aug 8, 2017
    #5
  6. Matt Weiss
    Offline

    Matt Weiss New Member

    Posts:
    10
    Likes Received:
    0
    State:
    New York
    Hello,
    My name is Matthew Weiss, President of Selectpeo. I'm excited to reach out and introduce Selectpeo, and how we can build a successful relationship by providing your agency the opportunity to offer Strategic Alternative Workers' Comp Solutions.
    Selectpeo is a premier general agency that offers a competitive portfolio of products that will allow you to grow, retain, and cross sell to your clients. The products we offer have low market penetration to give you the cutting edge advantage. We specialize in PEOs, Strategic Worker’s Compensation solutions and Fortune 500 styled benefit packages. With our competitive portfolio you can maximize revenue and increase retention.
    Our products pay well above average commissions, averaging between 7.5% - 15% of Workers' Comp.
    Brokers Utilize Our PEO Programs For:
    • Pay-as-you-go work comp solutions with no audits
    • To place risks with open/excessive claims, high mods, start ups, high risk class codes
    • Pulling clients out of the State Insurance Fund
    • To handle workers' comp solutions for companies in multiple states
    • To have access to exclusive A rated workers' comp companies only available through a PEO
    • To help clients free up cash flow
    • To offer Fortune 500 style employee benefits
    • To maximize revenue and increase client retention
    I suggest you start by sending us one of your most difficult state fund clients, something you re marketed and never could remove and let us turn that no commission policy into high paying revenue!
     
Loading...