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Policy Updates & Changes

    Ownership or Entity Change

  1. My business had a change in ownership/entity. How do I update my policy and what documentation do I need to send you? How can I update my policy with changes to partners/officers who have left the business?
  2. I am retiring and giving my business to my son/daughter. Can you remove me from the policy?
  3. Address Changes

  4. My mailing address changed. How can I update my policy? I have a new business location but my mailing address is the same. How can I add the additional location to the policy?
  5. Adding an Additional Business

  6. I just bought a second business and would like to add it to my existing policy. Can this be done?
  7. Having a Bookkeeper Handle Payroll Reports

  8. A bookkeeper handles my payroll. Can you send all my reports to him/her?
  9. Changing the Name of a Business

  10. I am changing the name of my business, but the ownership is not going to change. Can you change the name on the policy?
  11. Adding Fax Numbers/Email Address to a Policy

  12. Can I add a fax number/e-mail address to my policy?
  13. Exclusions

  14. Who can and cannot be excluded from the policy?
  15. I am the owner of the business and currently excluded from coverage, but I would now like to be covered. How can I do this?
  16. Adding a New Employee and New Classification

  17. I just hired a new employee and need a new classification added to my policy. How can I do this?
  18. Business Operation Changes

  19. The operations of my business have changed. Do I need a new policy?
  20. Adding, Removing, or Changing Brokers

  21. I’d like to add/remove/change my broker. Can I do this?
  22. Adding A Waiver of Subrogation

  23. What is a "waiver of subrogation"?
  24. What types of waivers of subrogation does State Fund offer?
  25. Is there a fee for a waiver of subrogation?
  26. How do I determine whether a blanket waiver or a specific waiver is best for me?
  27. I seldom have a written contract with a third party that has a waiver of subrogation requirement in any one year. Should I still go with a blanket waiver?
  28. Can I delete a waiver of subrogation?
  29. Why didn’t the certificate renew with the endorsements?

    Ownership or Entity Change

  1. My business had a change in ownership/entity. How do I update my policy and what documentation do I need to send you? How can I update my policy with changes to partners/officers who have left the business?

    You may submit either a letter explaining the changes, or a completed Policy Update Form which you can request from State Fund. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance in updating your policy. Any changes to the ownership or entity will be reviewed and further information may be required to update your policy, e.g. changes in partners/officers.

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  3. I am retiring and giving my business to my son/daughter. Can you remove me from the policy?

    In order to make any changes to your policy, additional information may be needed for further review. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance in updating your policy.

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    Address Changes

  5. My mailing address changed. How can I update my policy? I have a new business location but my mailing address is the same. How can I add the additional location to the policy?

    Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance in updating your policy.

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    Adding an Additional Business

  7. I just bought a second business and would like to add it to my existing policy. Can this be done?

    We need to review the specific circumstances to make any changes to your policy. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance in updating your policy.

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    Having a Bookkeeper Handle Payroll Reports

  9. A bookkeeper handles my payroll. Can you send all my reports to him/her?

    Yes. We can add your bookkeeper’s name and address to your policy so they can receive and complete all of your payroll reports. However, you are still ultimately responsible to ensure timely submission of payroll reports and payments. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338). You can also self-register for State Fund Online to access your policy online and enroll in our ePayroll/ePayment application. You can delegate your ePayroll/ePayment completion responsibilities to your bookkeeper.

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    Changing the Name of a Business

  11. I am changing the name of my business, but the ownership is not going to change. Can you change the name on the policy?

    Yes. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance in updating the business name on your policy.

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    Adding Fax Numbers/Email Address to a Policy

  13. Can I add a fax number/e-mail address to my policy?

    Yes. Please contact your broker or you can update your primary contact information, including your fax number and email address, anytime you wish in State Fund Online.  Please visit State Fund Online to register and access your policy and claims information. 

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    Exclusions

  15. Who can and cannot be excluded from the policy?

    All employees must be covered and cannot be excluded from the policy.  Sole proprietors and spouses named on a husband-and-wife policy are not considered employees, and are not covered by the policy.  However, he or she can request in writing to be covered under the policy.

    Corporate officers, partners and managing members of LLCs are considered to be employees and included in the coverage.  However, exclusion from coverage is possible, provided certain qualifications are met.

    If you are interested in excluding corporate officers, partners or managing-members, please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance. Further review or additional information may be necessary to determine if your request can be granted.

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  17. I am the owner of the business and currently excluded from coverage, but I would now like to be covered. How can I do this?

    You will need to inform State Fund of your desire to be covered; you can write, fax, email or send a completed policy update form. Further review will be required to determine if your request can be granted. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance.

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    Adding a New Employee and New Classification

  19. I just hired a new employee and need a new classification added to my policy. How can I do this?

    You will need to notify State Fund in writing, fax, email, or a completed Job Description Questionnaire. Additional information may be required to determine the appropriate classification code. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance.

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    Business Operation Changes

  21. The operations of my business have changed. Do I need a new policy?

    A new policy will not be necessary, but you must notify State Fund in writing so that we can update your policy accordingly. However, a change in operation may result in a change in classification code. Please contact your broker or call the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance.

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    Adding, Removing, or Changing Brokers

  23. I’d like to add/remove/change my broker. Can I do this?

    Yes, a policyholder is able to remove or change the broker on their policy. To find out how, contact the Customer Service Center at 888-STATEFUND (888-782-8338) for assistance.

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    Adding A Waiver of Subrogation

  25. What is a "waiver of subrogation"?
  26. Subrogation is a legal term that means the assumption by a third party of another's legal right to collect a debt or damages. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes on the legal rights the claimant has against the potentially liable third party (such as the owner of the property where the policyholder’s injured employee was working), and attempts to collect compensation from that third party.

    A waiver of subrogation policy endorsement prevents an insurance company from trying to recover those costs. In other words, if State Fund provides you a waiver of subrogation, we can't sue the person or company that caused the injuries on the claim we already paid.

  27. What types of waivers of subrogation does State Fund offer?
  28. State Fund offers two types of waivers: (1) A specific waiver (Endorsement 2570) that names the third party with whom you have a contract to perform work; (2) A blanket waiver (Endorsement 2572) that does not name a third party—it applies to all the jobs where you perform work under a contract with a third party who requires a waiver of subrogation.

    Quotes issued for policies incepting on September 1, 2013, or later will include the Blanket Waiver endorsement and the related premium charge if you request the endorsement with your application.

    If the Blanket Waiver endorsement is not requested prior to the inception of your policy, it will not be added until your next renewal.

  29. Is there a fee for a waiver of subrogation?
  30. There is a three percent surcharge for a specific waiver that is applied to the premium assessed on employee payroll earned while working for the certificate holder who requested the waiver. (Note: There is no charge if you have no employee payroll on that job). There is a two percent surcharge applied to your total annual policy premium for a blanket waiver.

  31. How do I determine whether a blanket waiver or a specific waiver is best for me?
  32. The best way to assess whether a blanket waiver or specific waiver is best for your client is to evaluate the cost of the surcharges. Estimate what two percent of the annual premium would be, then figure out the premium associated with third parties that require a waiver. If it is less than two-thirds of two percent of your annual premium, then the specific waiver may carry less of a surcharge. You may also want to factor in the cost of requesting the specific waivers each time one is needed versus requesting the blanket option upfront—doing so may make the blanket waiver a better option.

  33. I seldom have a written contract with a third party that has a waiver of subrogation requirement in any one year. Should I still go with a blanket waiver?
  34. A blanket waiver may be the best option if you have multiple written contracts that require waivers of subrogation that cover much of your business activity in a year. It may also be a good option if you want the ease associated with one decision at the time your policy is renewed, which eliminates the need to provide segregated payroll records to the State Fund premium auditor.

    If the third party requesting the waiver wants to be specifically named and won’t accept a blanket waiver of subrogation, you can have a specific waiver endorsed to your policy. There will not be an additional surcharge for the specific waiver in this special situation as long as the blanket waiver is on the policy and the two percent premium charge has already been applied.

  35. Can I delete a waiver of subrogation?
  36. No. We cannot delete a waiver of subrogation endorsement during the policy term.

  37. Why didn’t the certificate renew with the endorsements?
  38. Some endorsements, such as those for a “waiver of subrogation” and “agreed payroll,” will not automatically roll over to the renewing policy year because there are surcharges that require a policyholder’s request and acceptance. Contact your State Fund representative or broker to request these endorsements.

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