Advanced Protection Through FWCJUA – Florida Workers’ Compensation Joint Underwriting Association, Inc If you have stumbled upon this webpage you’re either needing Workers Compensation Insurance through the FWCJUA (Florida Workers’ Compensation Joint Underwriting Association), aka JUA, or looking for someone to write your Workmans Comp. Either Way, we Can Help! The mission of the FWCJUA simply put is to “provide Workers Comp insurance for employers that are unable to buy in the standard (voluntary) market.” Basically speaking, this policy is for employers that:
1. Have no prior insurance
2. Too low of a payroll for standard carriers
3. Too many losses
4. High experience modification
5. Can’t find Workers Compensation in the standard markets
If you fall into one or more of those four categories you are most likely eligible for coverage with the FWCJUA. There are some circumstances that can make you ineligible, but it is best to consult with an agent to discuss options.
How Long Does The Process Take?
The process can be cumbersome if you don’t have the proper paperwork in order before you start. This is not the type of insurance that you can purchase same day or even same week. The majority of the time the process takes 20 days and that includes the applicant having all the paperwork ready at the start of the process. Policies can not be bound online, so that means the applicant must have original inked signature and payment in full in the hands of the Association in order to bind the policy. FWCJUA does not have in-house financing, but outside financing is available through our agency partners.
What Are The Minimum Requirements?
Florida, like most states have the minimum requirement of bodily injury by accident $100,000 each accident, bodily injury by disease $500,000 policy limit, and bodily injury by disease $100,000 each employee.
How Much Does The Insurance Cost?
Workers Comp costs in Florida vary depending on payroll, class code, and if the corporation officer payroll is included or excluded. That being said, there are additional fees and premiums that the FWCJA imposes that drive the minimum premium to $1,403, before adding in rating factors such as payroll and class code.
What Paperwork Is Needed To Start The Process?
To expedite the process, you may begin compiling the necessary information to complete a formal quote. We do recommend contacting the office first to see if other options may be available. This list comes straight from the FWCJUA website:
1. Tax ID
2. Description of business operations
3. Business locations
4. Contact information
5. Payroll estimates
6. Job duties of employees
7. Previous Workers Comp history
8. RT-6 or 941 Payroll Verification forms for the last four quarters filed with the Department of Revenue;
9. Exemption/Election forms on file or being filed with the state of Florida;
10. Experience Rating Worksheet generated by NCCI;
11. ERM-14 form (Confidential Request for Ownership Information) to be filed by the FWCJUA with NCCI;
12. Most recent Workers Compensation policy information page reflecting class codes and payrolls;
13. Loss runs valued within the last thirty (30) calendar days generated by the prior insurer(s) identifying your loss history and corresponding premium for, at most, the immediately preceding three years;
14. Certificates of insurance issued within the last thirty (30) calendar days for all subcontractors including those with leased workers regardless of exemption status;
15. State contractor’s licenses issued by the Florida Department of Business and Professional Regulation;
16. Contracts that particularly establish exposure, such as, but not limited to, employee leasing (PEO) arrangements, temporary employment agency contracts and franchise agreements;
17. Pending and current bankruptcy filings and documentation
18. Settlements related to prior Workmans Comp obligations;
19. Valid finance agreement if premium will be financed;
20. Full details on any voluntary market offers of coverage; and
21. Full details on any voluntary market coverage declinations.
Experience! Don’t make the mistake of going with a rookie who has little or no experience dealing with the FWCJUA. We understand the process and are ready to help you obtain the coverage you need, in a timely matter. insurance quotes