June 8, 2010

The Agents Choice for Workers' Compensation Coverage

What's New?

Direct Bill Finance Plan Option

The Guard is one of several small business workers' compensation programs offered through Cluett that now offers an alternative payment option.

In order to meet the cash flow needs of many insureds they are now offering a Payment Plan that provides the the ability to pay premium based upon actual payroll versus an estimated annual premium.

• Payroll Reporting Plan in which insureds will provide Guard their payroll data online via the Policyholder Service Center (PSC) at www.guard.com. Information needed to login to the PSC are Policy Number, Inception Date and Federal Tax ID number.
• A DEPOSIT amount of 15% will be required for issuance and held as a "security" for the 12th month's premium; it will then be applied to the amount due after final audit.
• When payroll is submitted to Guard via the PSC, they will calculate the premium due and fax and/or email the billing statement to the policyholder.

Frequently asked questions:

How is this option selected this during the quoting process and what additional information / forms are required? To select this during the quoting process, please let the Cluett Underwriters know your client would like Direct Bill:Payroll Reporting Plan 15% Deposit.. A Direct Draft Program form for payroll reporting will be included with the proposal when you choose that payment option.

How does the insured report their payroll each month? The insured would login to the Policyholder Service Center at www.guard.com by entering their Policy Number, Inception Date and Federal Tax ID number. After the monthly e-mail/fax notification has been sent to the insured, a link labeled Complete Payroll Reporting Form will appear under the Billing section where they will be asked to complete the Payroll Reporting form.

If the insured misses a report, or an EFT is insufficient funds twice, and they are put on full pay direct bill, can this be reversed back to self-reporting if there is a reasonable explanation? It would be rare that we would reverse back to self-reporting, however, Guard will review if there are extenuating type circumstances.

Once they are on full pay direct bill can they request installments, or can they finance the balance? Guard will bill the entire balance, but the insured can request installments.

Although Guard's minimum premium range starts at $300 this payment option generally works best with premiums $1,000 or greater.

Agent Updates

• August 2, 2010

  10% Scheduled Credits Now Available on Certain Class Codes

• June 8, 2010

  Direct Bill Finance Plan Option

• April 23, 2010

  Just a few of the many types of risks Cluett quoted and bound this month!

• March 24, 2010

  Over 2,000 agents use Cluett because of our Quick Turnaround and Easy to Use Agent Site

• January 26, 2010

  February New Business Agent Incentive! Cluett will pay your agency 7% Commission on all new small business risks with February 2010 Effective Dates.