Frequently Asked Questions

What commissions do you pay brokers?

» 20% of the fee on both new and renewal business.

When do you pay commissions?

» The month following the receipt of the administration fee from the insured.

How do you calculate the administration fee?

» The fee is 10% of the adjusted manual rate premium (after experience mod) subject to adjustment at audit or mid-term payroll changes.

Do we have to bill the policy premium and the administration fee?

» No, the State Insurance Fund bills the premium direct to the insured and we bill the administration fee directly after the receipt of the policy.

Can the insured pay the administration fee in installments?

» No, we bill the full administration fee upfront.

How am I protected from Friedlander Group soliciting my business?

» Friedlander Group does not sell any other forms of insurance, other than NY DBL. Friedlander Group does not solicit your accounts. All brokered accounts are coded so that no solicitation mail is ever sent to your client.

What is your maximum up front discount?

» Up to 25%.

When are the dividends paid?

» Approximately eight to nine months after the group expiration date.

Will we get copies of the dividends checks?

» No, the SIF issues the checks directly to the policy holder.

Do we get a copy of the policy, endorsement and audits?

» Yes, after we scan the documents into our system, we then mail the hard copy to the broker.

Can the executive officers exclude themselves from coverage?

» Yes, provided that there are no more than two executive officers and they in turn own 100% of the outstanding stock. In this instance either both executives can be excluded or only one can be excluded.

Do you accept BOR’s?

» Yes, but not on in-house written accounts. In case of BOR’s we do not pay the new broker commission.

My insured is a LLC, are the members automatically covered like corporate officers are?

» No, members of a LLC are automatically excluded, the same way partners or sole proprietors are, unless they elect to be included. In this case, an executed Election for Inclusion form must be executed.