Roofing Company -Workers Comp

[tylerb37]

Hey Everyone,

I was referred a roofing company by my buddy who works at ADP. They are currently at a PEO, he is trying to win their payroll business and has referred me their workers comp business...problem is roofing hard to place risk in New Jersey.

I am looking at going through NJ crib the state fund and having it randomly placed with a strong carrier. problem is in the first year many of those carriers require premium up front or mostly paid in the 1st quarter. Their total premium is north of 200k which is large sum to come out of pocket right away.

Does anyone have a carrier they know of in the northeast that may be a quarterly pay/pay as you go that is NOT a PEO.
Thank you all for you consideration and help

 

[AZDave]

The 'rate' thru State Fund is higher than his current PEO offering, or the same? The rate difference between the voluntary market and assigned risk for a roofer could be a lot.

Have you looked into any premium financing alternatives?

I have yet to meet a roofing contractor the plays by the book when it comes to work comp and gl.

 

[EugeneM]

roofer and coming out of a peo - ouch