Over the Labor Day weekend, State Fund will program their systems to update several underwriting processes and reflect upcoming changes in their rates.
Rate reduction
The California Department of Insurance (CDI) accepted State Funds recent rate filing. For policies effective December 1, 2024 and later, you will see an overall reduction of 7.9% in collectible premium. This decrease reflects:
- Updated pure premiums per the WCIRB’s 9/1/2024 proposed advisory level and lower LCM factors.
- Updated minimum premium amounts by class code.
- Impacts from our schedule rating threshold change (see more below).
Schedule rating eligibility threshold
Beginning with effective dates of December 1st and later, State Fund is raising the premium threshold for Schedule Rating from $25,000 of standard premium to $50,000 of standard premium. This change is designed to obtain a quote quicker for new business and renew even more policies via State Fund’s fast-flow, low-touch renewal process.
Roofing submissions
Beginning Sunday, September 1st (regardless of the proposed policy effective date), roofing submissions will no longer receive an automatic quote. All new business and renewal roofing submissions will be reviewed by an underwriter before a quote is provided. Further information about revised roofing underwriting protocols will be provided within the next few months.
If you have questions, please contact your Amwins’ Access State Fund Team at 888-693-7892.
Thank you for your continued partnership.
Your Amwins’ Access State Fund Team
