State Fund is making changes to their billing process for minimum premium policies to ensure that they collect accurate premium throughout the policy term and avoid unexpected large bills.
These changes will affect new and renewal policies with inception dates of February 1, 2025, and later. We are letting you know now as you may be quoting minimum premium policies 90 days in advance that could be subject to one of two new billing plans. Industry and credit score characteristics will determine if the policyholder submits one or two payroll reports during the policy term.
In addition, minimum premium policyholders will no longer be required to pay a deposit to initiate coverage. Instead, the entire premium will be paid upfront. Deposits from existing 2024 minimum premium policies will be applied to the 2025 renewal and used to pay new or prior term charges.
Throughout 2025, they will notify existing minimum premium policyholders of these changes via email ten days prior to renewal. They will also send a reminder email ten days before the second payroll is due to customers whose payroll reporting frequency has changed.
For more information, please refer to the Billing Plan Changes FAQs or you may contact Amwins’, your official State Fund Access Partner,
at 888-693-7892 option #2.
Thank you,
Your Amwins’ Access State Fund Team
