Our experienced team of underwriters, risk managers and operations personnel ensures that submissions are processed quickly and efficiently—most receiving an underwriting decision within 24 hours. And our in-house premium auditing process guarantees accurate premiums. Every time. Now, the top 10 most popular questions posed by agents:
- Can I talk to one of your underwriters about an application before I submit it?
- What exactly do I need to submit a risk?
- Will you consider writing a new business or a company with no prior coverage?
- Do you require loss runs?
- May officers, partners or sole proprietors exclude themselves from coverage?
- Do you provide Waivers of Subrogation?
- Do you provide Alternate Employer endorsements or Additional Insured endorsements?
- Can I submit business even if my agency doesn’t have a contract with you?
- Where can I get loss information on my clients?
- Is there a common expiration date for all LCI Workers' Comp policies?
Yes. Our underwriters are happy to provide general guidance and will take the time to try to answer whatever questions you may have regarding your submission. Simply call (866) 398-8170 for more information regarding our underwriting department or visit our Underwriting Facts & Figures page.
Our standard premium payment plan is 8.5% down and 10 equal installments with no interest charged. Of course, payroll reporting and other payment plans may be discussed with underwriting. In the event of policy cancellation, all fees and association dues that are not paid in their entirety during the course of the policy period because of cancellation are due at the time of cancellation. And remember, every account is subject to a premium audit.
- Minimum payroll - $18,000
- Minimum premium - $1,500 (degree of risk may require higher premiums)
- Minimum payroll for Sole Proprietors and Partners - $5,200
- Maximum payroll for Sole Proprietors and Partners - $23,700 per person, per year
- Minimum payroll for Owners/Officers of a corporation - $15,600
- Maximum payroll for Owners/Officers of a corporation - $46,800
- Charge for increased limits of Employers Liability – 1.7% of premium for limits of $500,000/$500,000/$500,000 or 2.8% of premium for limits of $1,000,000/$1,000,000/$1,000,000