Feb 22, 2011 #1 B Broker2Be New Member 2 Hi! I'm new to this field and had a question on Workers Comp Acords. How do I determine the "Estimated Annual Premium" on a 130 acord? Any help is appreciated.
Hi! I'm new to this field and had a question on Workers Comp Acords. How do I determine the "Estimated Annual Premium" on a 130 acord? Any help is appreciated.
Feb 22, 2011 #2 D djs Super Moderator Moderator 6,673 Estimated payroll times the workers comp payroll rate plus any appropriate fees. Don't sweat it to much. Nobody will shoot you if you are off, but it's a way to judge appropriate placement. The hardest part, with small companies is getting estimated payroll. Dan
Estimated payroll times the workers comp payroll rate plus any appropriate fees. Don't sweat it to much. Nobody will shoot you if you are off, but it's a way to judge appropriate placement. The hardest part, with small companies is getting estimated payroll. Dan
Feb 22, 2011 Thread starter #3 B Broker2Be New Member 2 djs said: Estimated payroll times the workers comp payroll rate plus any appropriate fees. Don't sweat it to much. Nobody will shoot you if you are off, but it's a way to judge appropriate placement. The hardest part, with small companies is getting estimated payroll. Dan Click to expand... Thanks For your response Dan. So it's not "Estimated payroll" divided by "1000" times "Rate"? Is it different in every sate? And yes, especially in NY, small companies are having lots of trouble finding a WC company that will write them.
djs said: Estimated payroll times the workers comp payroll rate plus any appropriate fees. Don't sweat it to much. Nobody will shoot you if you are off, but it's a way to judge appropriate placement. The hardest part, with small companies is getting estimated payroll. Dan Click to expand... Thanks For your response Dan. So it's not "Estimated payroll" divided by "1000" times "Rate"? Is it different in every sate? And yes, especially in NY, small companies are having lots of trouble finding a WC company that will write them.
Feb 22, 2011 #4 D djs Super Moderator Moderator 6,673 It all depends on how you quote the rate. Usually it is per 100 dollars of payroll. Basic math, you have to keep your factors in balance! Dan
It all depends on how you quote the rate. Usually it is per 100 dollars of payroll. Basic math, you have to keep your factors in balance! Dan
