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How long does it
take to get set-up and start submitting business?
The set-up
process can take less than a week. In order to start submitting
business for quotes we must have signed agreements in place.
Which work comp mod
is used?
Each client
is issued a separate policy utilizing their own current modifier.
However, your client gets the benefit of building the rates into
their payroll factors and cash flowing premium in a manner that is
virtually audit proof.
What do we do if a
client terminates?
Simply
notify our agency and we will take care of the rest.
How do we report
premium?
Each month,
you e-mail us a spreadsheet with premium information for each of
your clients who ran payroll in the previous month and ACH money to
our account or allow us to ACH your account for the premium you
collected on behalf of your client.
How do we earn our
transaction fee?
At the end
of each month The Insurance Shop will reconcile collected premium
and remit the premium to Guarantee Insurance Company. Your
transaction fee will be remitted to you by The Insurance Shop by the
end of the month proceeding the month in which the premium was
remitted to us. You will earn a 1% transaction fee on all premium.
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