Have a client bidding work in a non-NCCI state - New York. The WC they have only covers them here in their domiciled state, as it is through the IN state pool.
The issue they have is a lack of funds to pay 100% of premium for this NY policy. Once the job is up and running, they will have enough from salvage to pay off entire premium.
Do I bend the rules and reduce their estimated payroll to get premiums within budget and make it clear NY will get the money come audit time?
Are there any premium finance companies that will finance assigned risk premium?
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The issue they have is a lack of funds to pay 100% of premium for this NY policy. Once the job is up and running, they will have enough from salvage to pay off entire premium.
Do I bend the rules and reduce their estimated payroll to get premiums within budget and make it clear NY will get the money come audit time?
Are there any premium finance companies that will finance assigned risk premium?
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