https://completemarkets.com/company/novatae/professional-employer-organization/
A Vital Workers Compensation Loss Control and Cost Cutting Tool for Companies Nationwide
What a Professional Employer Organization Can Do for Your Policyholders
A Professional Employer Organization (PEO) enables small and mid-sized companies to cost-effectively outsource the management of Human Resource, Employee Benefits, Payroll and Workers' Compensation. Working with a PEO allows companies to focus on their core competencies rather than complicated, time-consuming and non-revenue producing functions-to maintain and grow their bottom line.
A PEO gives your clients a complete Human Resource solutions that lets them, as business owners, limit their liability. PEO's provide business owners with a team of professionals that provide their employees with the benefits they expect from a top rated company.
Small and large businesses are seeing how they can benefit from working with a Professional Employer Organization:
Eliminate high premium deposits and audits
Remove tedious HR tasks and focus on money making facets of the company
Save money by outsourcing their HR, employee benefits, and payroll
Get the reassurance that their company is always under compliance with professional HR management
Reduce risks by having proper employment practices
Attract quality employees by having top notch benefits.
A PEO Will Save Your Company Time and Money
Highlights and Key Features of the Empire PEO Programs
Pay As you Go Workers Compensation at reduced costs!
NO PREMIUM DEPOSIT
NO PREMIUM AUDITS
HUGE CASH FLOW ADVANTAGES
Loss Control and Risk Management
Expert and Fair Claims Management
HR Services -support: Unemployment Claims Administration, Garnishments, Cobra etc...
Full Compliance to ACA (Affordable Care Act) Requirements
Full Payroll service including full tax remittance and compliance, 941's, W-2's
Very little if any customer service for your Agency
Very high retention product - continuous until cancelled
Commissions
Great Commissions – ranges from 6 to 10% of Workers Compensation premiums (commissions vary by risk, governing code and size of account)
Target Classes of Business For PEO Quotes (Just a Sampling)
Manufacturing
Artisan Contractors
Heavy Construction
Property Management
Staffing
USL&H
Roofing
Landscaping
Demolition
Excavation, Grading and Equipment
Masonry and Concrete
Painting
Swimming Pool Contractors
Pool Plastering
Gunite Contractors
Framing and Carpentry
Janitorial
Residential Cleaning
Residential Care
Transportation
Freight Handlers
Warehouses
In Home Care and Assisted Living
Farming
We Handle Risks for All States Except Monopolistic
AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WV, WI
Specific State Submission Requirements
New York - Click Here
New Jersey - Click Here
Connecticut - Click Here
Pennsylvania - Click Here
California - Click Here
PEO and Custom Made Solutions – Tailored to your Clients Needs
Unlike “standalone policies” where the policies are mainly the same, the main features of our PEO products is that we can tailor make a program individualized for the account by adding and moving features and parts around that together work to fit make a whole. Examples of some of these features are:
Special deductible plans, (according to the clients individual risk appetite)
Dividend and return of premium plans
Custom discounts and credits for implementation of the service providers Loss Control procedures
Some Software Special Options
Job Costing Software
The ability to Run P & L and balance sheet reports
Accounting software interface
Multiple office report configuration
Some Payroll Delivery Options
Overnight checks mailed to client
Direct deposit into client's accounts
Money loaded onto employees bank check-cards,
Client writes net checks in house off of the service providers account,
Client write checks out of their own account (subject to approval)
All of these factors and preferences are considered in assessing the clients operations and needs and to design a tailored made individual solution, program and pricing for your client.
Eligibility and Target Market For PEO Quotes
Your PEO Target Accounts are::
Accounts that are seeking to get out of a State Workers Comp fund, a state “assign risk pool” or “insurer of last resort”
Accounts are being Non-Renewed or cancelled by the “standard market” due to losses or exposure
Any account that is headed to a State Insurance fund, “assign risk pool” or “insurer of last resort”
Accounts that have X-Mods between 1.30 and 3.0, but will also look at Mods under 1.30 and even Credit Mods
Accounts that have a credit mod but being Non-Renewed by current carrier due to heavy losses the prior year
Lapse in coverages
Accounts with No Prior coverage, tough class code, multi-state exposure or adverse underwriting criteria
Any combination of the above that makes the account impossible or unlikely for the standard market to handle
Tough Class Codes with some or all of the above criteria
We will look at virtually any range of Class Codes from Clerical, to Manufacturers, Contractors, Health and Medical fields to name few
Top Carriers
We have over 12 Carriers to work with including some of the highest rated AM Best Carriers in the country, including Hartford, AIG, Zurich, Argonaut, Amtrust, State National, Lumberman’s and many more..
Empire Submission Requirements For PEO
Acord 130
3 Years loss history
Loss History Affidavit for accounts with Lapse in coverage or No Prior
Explanation of claims over $20,000
Experience Mod-Sheet
The Supplemental for the Class of Work pertaining to the risk being submitted
(Click here for Supplementals)