State Fund is updating its definitions of full-time and part-time employees to make sure their customers get the most accurate pricing for their policies.
Full-time and part-time employee counts are weighted differently in State Fund’s pricing models. To ensure accurate pricing, it is important to provide the correct number of full-time and part-time employees. Here’s how they are now defining employees:
- Full-time: Works 1,500 hours or more per year
- Part-time: Works less than 1,500 hours per year
Clearly defining these roles can be especially helpful for businesses with seasonal or project-based workers as this information directly affects how premium is calculated. Accurately reporting employee types helps State Fund set prices that truly reflect the risk, which ultimately helps your clients.
If you have any questions about doing business with State Fund, please contact Amwins’ Access State Fund, your official State Fund Access Partner, at asfnewbusiness@amwins.com
Thank you,
Your Amwins’ Access State Fund Team
