3rd Party PAYO Facilitator
This solution is good for any insured wanting a workers' comp "cash flow" payment option. Our Third Party Facilitator bring unique benefits to the insured and our agents.
For more information please contact your Regional Sales Manager or Underwriter.
How Does it Work?
This solution provides the insured with the best of both worlds. Keeping their national payroll company for payroll and keeping their local agent as their agent of record. Works well for the insured currently with a national payroll agency. National payroll agencies by design, have chosen not to collect and remit the reports or premium to the carrier if they are not the agent of record.
AmTrust provides the 3rd Party PAYO Facilitator with the net rates by class code (and state if applicable). The 3rd Party PAYO Facilitator handles the work comp premium calculation and billing to the insured. They then report and remit the premium directly to AmTrust on the insured’s behalf.
The insured will process payroll with their national payroll company as usual. The 3rd party PAYO facilitator works with the insured to gain online access to view their payroll reports. This is “read only” access needed to generate the work comp invoice for billing purposes each pay period. This is the same access used by the insured’s CPA or accountant to view, but not edit the payroll data.
3rd Party Processing
3rd Party Facilitator EFT form required. Must be sent back to the 3rd Party Facilitator
Invoices will be emailed to the insured on the Monday following the insured’s check date
Email serves as notification to insured of the total work comp premium being deducted
Premium drafted on Wednesday (2 business days later), from insured’s selected account
Premium and processing fees will be shown as separate line items on each invoice
Agency information will be shown on each invoice
3rd Party Industry standard fees
One-time set up fee = $75
$10 per process if the insured runs payroll weekly OR
$15 per process if the insured runs payroll bi-weekly or semi-monthly
Multi-location discounts available
If you have an insured interested in this AmTrust PAYO solution, please contact:
Ted Maurelli at 561.212.9788 or firstname.lastname@example.org. Ted will set up a 15 minute teleconference to include a member of our PAYO team, a member of the Third Party Facilitator team, a member of the insurance agency, and the insured. This introductory call is important to ensure a smooth transition to this AmTrust PAYO solution.