On 9/17/2020 California enacted SB-1159 which imposes certain reporting requirements on California employers. Effective immediately, California employers are required to report positive COVID-19 tests to their workers compensation claim administrator, whether there is an allegation the COVID-19 exposure is related to work or not. Additional information on California SB-1159 can be found
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AmTrust 2019 Outlook
AmTrust 2019 Outlook
2019 promises to be a good year for the insurance industry, and a good year for AmTrust and our appointed agents. Experts point to sustained economic growth, rising interest rates and higher investment income as
factors that will contribute to a strong year
for insurers in 2018, thus setting the stage for top- and bottom-line growth in 2019.
AmTrust enters 2019 knowing that with an overall bright outlook for the industry, there will still be challenges for all insurers, agents and policyholders to overcome. With our recent move towards privatization, we are better positioned to make decisions that benefit our agents and policyholders – without reporting back to shareholders. Building strong relationships with our agents continues to be our focus, and we strive to help our agents build their book of business by providing the best coverage options for their insured.
The insurance industry is ever changing, and the ability to adapt to those changes is the key to success. AmTrust certainly understands this, and that’s why we have a renewed focus on our commitment to work effectively with you to meet the insurance needs of your clients. We remain a strong workers’ compensation carrier, with flexible BOP and package coverage options.
AmTrust Remains Financially Strong for the Future
Our agents have come to rely on our financial strength and security. We’re here to tell you that our financial outlook for 2019 has remained unchanged, as evident by our A.M. Best rating of “A-“ (Excellent) and Financial Size Category of “XV.” We are well positioned to serve you and your clients for the long term:
Our move to take AmTrust Financial private was completed in late 2018 following all necessary regulatory approvals. Additionally, thanks to the initiatives we undertook over the last two years, AmTrust has established the strongest capital base in our 20-year history, with total assets of $25.76 billion and $3.6 billion in equity. AmTrust as a private company will continue to focus on the principles that have guided our growth over the past 20 years – servicing and supporting our agent partners and providing optimal value to your insureds.
We’re Focused on You
We have always prioritized our relationships with our agents, and 2019 will be no different. But we are taking things one step further this year. Our goal for 2019 and beyond is to grow our market share in a consultative fashion with our valued agency partners. We are also committed to making it even easier to do business with us by offering:
• An enhanced platform for our online submission portal.
• Revamping our underwriting department to compliment our online submission portal, making it faster and easier to do business with us.
• Webinars to help educate agencies and insureds about our products and services.
Additionally, we provide incentives (on top of commissions) for writing new business with us through our AmPoints program, and an exciting opportunity to obtain additional underwriting profit through our Vested Insurance Partnership (VIP) program (read more about this program below).
AmTrust Vested Insurance Partnership (VIP) Program
, formerly known as the Agency Captive Program, serves as an opportunity for
agencies to earn up to 25 percent of underwriting profit in addition to normal commission income.
Agents retain full control over which accounts they place in the captive, and the underwriter and sales representative assignments remain the same.
is our agent incentive program that enables you to earn points for binding qualifying business though our submission system, AmTrust Online. The points you earn can be redeemed for merchandise!
AmTrust Product Focus for 2019
You don’t become one of the nation’s leading
providers overnight. It takes hard work and commitment to develop the products and services that fit the needs of our customers. Small businesses all over the country rely on the AmTrust name because we offer customized coverage, superior service, and the experience and insight needed to anticipate and accommodate the changing needs of businesses. We offer a multi-tiered pricing approach, multi-state capability, and more than 350 eligible class codes in all licensed states.
Six things to know about our workers' compensation coverage
PAYO is our seamless workers’ comp payment solution that continues to grow in popularity across the country with agents and insureds of all sizes.
Each of our three PAYO Solutions
(Traditional, Third Party Facilitator, PAYO Self-Reporting) allows you to remain agent of record to help you build a profitable workers’ comp book of business, while making things simple for your insureds by offering benefits such as: • No upfront money needed to bind coverage at policy inception or renewal • Premium payments based on actual payroll and not on estimates, thus reducing the chance of premium audit differences • Improved cash flow for insureds
10 things you should know about AmTrust PAYO
Businessowners Policy (BOP)
makes things simple for small businesses. Offered as a standalone product and with other lines of coverage, it provides small business owners with coverage under a single policy. And a BOP provides tremendous value, since it bundles the major coverages small business owners need. You can also add
employment practices liability insurance (EPLI)
cyber liability insurance
, further safeguarding you and your insureds against these growing risks. Small grocery stores, restaurants, retailers, wholesalers and more have all taken advantage of our comprehensive BOP product.
We are excited to announce that we’ve added approximately 150 new BOP classes of business. Discover the five “must-knows” about
our BOP coverage
that can help you build a profitable book of business.
Our Commercial Package
is ideal for growing businesses with complex coverage needs. It allows your small and mid-sized business insureds with five locations or less to bundle various types of coverage – beginning with property and general liability insurance – within a single policy. You can make it as comprehensive as it needs to be, with the ability to add on with
cyber liability coverage.
Here are five things
you should know about our Commercial Package policies.
With access to our large portfolio of competitively priced nonprofit specialty insurance products and services, AmTrust agents are uniquely able to address the special challenges that nonprofits and government employers face.
We offer excellent insurance products for nearly every type of nonprofit organization, including human services, education, mental health and crisis intervention, housing and shelter, religious institutions, youth development, arts, culture and humanities, animal care, philanthropy, environmental services and more.
Read about the seven things
you should know about our nonprofit insurance.
We look forward to working with our agents to make 2019 a prosperous year. Check our blog regularly for more up-to-date news, tips and information on the insurance industry.
This material is for informational purposes only, summarizes coverages and services that may be available in a policy, and is not legal or business advice. Neither AmTrust Financial Services, Inc. nor any of its subsidiaries or affiliates represents or warrants that the information contained herein is appropriate or suitable for any specific business or legal purpose. Readers seeking resolution of specific questions should consult their business and/or legal advisors. Coverages may vary by location. Contact your local RSM for more information.
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Feb 17, 2020
What is Directors and Officers Insurance
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