Understanding Workers' Compensation Underwriting Guidelines

Topics: Workers' Compensation

If you are working with an underwriter to help make sure your agency clients have the right amount of workers’ compensation coverage, having a working understanding of the process and terminology can be a huge help. To get started, check out our Workers’ Compensation Sell Sheet.

What to Know about Workers’ Compensation Underwriting Guidelines

When considering AmTrust for workers’ compensation coverage, it helps to understand our risk appetite. With over 500 eligible classes and 200 eligible to bind online, we are an ideal fit for many small and mid-sized businesses. We offer:
  • Multi-tier pricing approach
  • Multi-state capabilities
  • Strong underwriting with national and regional expertise
  • New ventures eligible in most classes
  • Superior claims and loss control services
workers' compensation injury form

AmTrust looks at the story behind every account to try and understand the risk involved and will make exceptions in certain cases, but as a general rule, our workers’ compensation underwriting guidelines include:
  • At least one full-time employee (in addition to the owners).
  • Fewer than 75 employees at a single location at the same time. For larger work sites, we will look at egress and number of stories.
  • Generally, one year in business with workers’ compensation coverage with loss run history submitted.
  • Prefer three years’ prior coverage on artisan contracting risks, though will consider an artisan contractor that hasn’t had coverage before if they were a sole proprietor now adding new employees.
These guidelines are not all-inclusive or applicable in all states. New ventures and those companies who have had no prior coverage will also be considered.


Why the Multi-Tiered Carrier Approach?

At AmTrust Financial, we realize that every business has a unique structure and differentiated needs. So we provide workers’ compensation from a variety of affiliated insurance carriers to make it easy for you to provide flexible pricing options for a competitive advantage.

Here are our workers’ compensation carriers:
  • AmTrust Insurance Company of Kansas
  • Associated Industries Insurance Companies
  • First Nonprofit Insurance Company
  • Milwaukee Casualty Insurance Company
  • Security National Insurance Company
  • Sequoia Insurance Company
  • Technology Insurance Company
  • Wesco Insurance Company

How Workers' Compensation Policies are Submitted

AmTrust is actively working with new technologies to help make the underwriting process as easy as possible. Our submission process for workers’ compensation insurance policies is simple, effective, and flexible for your clients. AmTrust Bind Online is a virtual system that makes it easy for you to get same-day binding or coverage with little underwriting assistance. Here’s how it works:

  • You submit the required information online through AmTrust Bind Online.
  • The Direct Submit system will generate a quote based on the information provided and submit to an underwriter on our team.
  • The underwriter will review, verify the quote and get back to you.

What’s great about the AmTrust Bind Online system is that it works seamlessly with AmTrust Online, and that means that producers and policyholders can get easy access to claim details, policies, and payment options through the same portal. 

AmTrust Online provides easy, 24/7/365 access for agents to:
  • Quote an account in minutes
  • Quote all lines of coverage in one place
  • Bind coverage same day as quote
  • Online policy issuance – generate workers’ compensation policy issuance documents in real-time after binding View and manage policies and claims
  • Pay premium
Once a policy is submitted, the insured portal allows policyholders the ability to view and manage policies online to make payments and complete audits.

Workers’ Compensation Coverage from AmTrust Financial

AmTrust Financial Services is one of the nation’s largest writers of workers’ compensation insurance for small businesses across multiple industries. We are proud to be your partner and support you and your clients every step of the way. For more information about our small business insurance solutions, please contact us today.

This material is for informational purposes only 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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