Pay-As-You-Owe Worker's Compensation Insurance

Eddie Davis -

Purchasing workers’ compensation insurance and making installment premium payments can be time consuming and altogether painful. Many business owners are faced with installment fees, large up-front premiums and the ongoing concern of making timely payments. Also, many have to contend with large additional or return premiums at audit.

AmTrust, an A-rated national insurance carrier, works hand in hand with insurance agencies and with your FINSYNC payroll service to provide you with the Perfect Payment solution. The PAYO Solution reduces business owners’ time and effort in many ways. No deposit required makes it easy to secure coverage. Seamless premium payments help budget more effectively by automating workers’ comp premium payments. This provides you with efficiency and cash-flow benefits throughout the policy.

No more large down payments to make. No more checks to write. Pay exactly what is owed each pay period based on actual payroll. Now that certainly takes the pain away!

PAYO features include:

  • No deposit required at policy inception or renewal
  • Improved cash flow — premium based on "actual" payroll
  • Reduce the chance of large audit surprises
  • Better control over your business

To enroll, select Settings > Payroll from within FINSYNC. Check the box marked "Automatically pay my employees' workers' compensation premiums." Provide the necessary details, save your changes, and someone will contact you shortly to confirm your enrollment and to answer any questions.

If you have questions about enrolling in or using this service, please contact us at support@finsync.com


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