Why Choose AmTrust for State Disability Insurance?
With an A- (Excellent) rating by A.M. Best, AmTrust Financial always seeks to deliver superior services at a rate that’s both fair and affordable. With a variety of tools and resources at our disposal, we work with AmTrust appointed agents to provide you with a quote for state disability insurance quickly and easily. We can even write policies for completely new ventures that fit emerging demands in the market.
AmTrust and our agents recognize the importance of flexibility in today’s business environment. We work closely with our agents and the small and mid-sized businesses they serve to design the specific packages they need to comply and succeed. Additionally, we offer advanced reporting, monitoring and audit options so both our agents and policyholders can always see how your AmTrust policy is performing for you.
What is Disability Insurance?
Workers often have protections including life, health or property insurance. They also can enjoy workers' compensation coverage or other benefits, such as retirement packages. But none of these options addresses the loss of income that occurs when a person isn't able to work for a few weeks or months for temporary, non-work-related reasons. Disability insurance can prevent workers from experiencing unnecessary financial difficulty during these times. It can protect employees' quality of living and reduce the odds that they experience stress due to a lack of adequate income.
What are the benefits of disability insurance?
From the employer's standpoint, disability insurance can serve as a perk that helps with employee attraction and retention—individuals can get policies on their own outside of an employer, but doing so is more difficult and more expensive, so employees like having it as part of a benefits package. Disability insurance providers also help businesses monitor and rehabilitate workers to ensure they recover well, allowing business leaders to make better decisions about teams, projects and general productivity goals. Disability plans can therefore support the management of profit and loss.
What is State Disability Insurance?
State disability insurance is short-term disability coverage that a handful of state governments require employees to offer. The purpose of these requirements is to supplement gaps left by other forms of public assistance and insurance so that all employees have access to the benefits of short-term disability coverage.
State-run programs fund disability insurance in different ways. In some cases, employers pay the cost in full, but they also can share the expense with workers who are eligible for coverage. Many employers choose to work with private providers, but if businesses can prove they are financially capable, they can self-insure, too.
Most state-based programs that offer disability insurance provide benefits based on a percentage of an employee’s weekly pay, often 50%. They also can cap benefits at a certain dollar value. In New York, for example, the maximum weekly payout as of 2017 is $170. There are more options for employees now than there were in 1989. Today, many carriers offer enriched benefits coverage to bridge the gap and help employees who find themselves trying to survive on a disability benefits check make ends meet. And providing the extra coverage may just cost the same as what you are paying for basic statutory coverage. Policyholders can use the amount received for any usual expenses, such as food, housing or utilities.
State-run disability insurance programs are similar to Social Security Disability Insurance (SSDI), which is available on the federal level. State disability insurance is different, however, in that SSDI is intended for long-term support. Some people use state disability insurance to supplement SSDI or move to SSDI when they are no longer eligible for the state benefits.
What States Offer Disability Insurance?
As of 2017, the states that require employers to provide disability insurance include:
- California (State Disability Insurance and Paid Family Leave)
- Hawaii (Hawaii Temporary Disability Insurance)
- New Jersey (New Jersey Temporary Disability Insurance)
- New York (New York Disability Benefits Law) See graphic
- Rhode Island (Rhode Island Temporary Disability Insurance)
- The commonwealth of Puerto Rico also provides coverage to residents (Puerto Rico Disability Insurance).
Clearly, state disability insurance is the exception rather than the rule. But according to a recent report from the National Safety Council, a disabling injury occurred outside of work once every 2 seconds in 2013. Employees won't be protected by workers' compensation coverage in these instances. Additionally, qualifying for long-term SSDI can be challenging, both because of the way disability is defined and because eligibility is determined in part by work history. For these reasons, more states might opt to mandate short-term disability coverage in the future.
AmTrust currently provides state disability coverage to more than 45,000 employees in New York and New Jersey. With competitive rates and agent compensation, we work to make the provision of state disability insurance easier than ever with quick access to online quotes, policy details, regulatory forms and more. If you are an employer in either of these states, you can simplify the insurance claim process for your employees by having AmTrust as both your state disability and workers' compensation carrier. Whether you have just a few employees or thousands, AmTrust can provide your business and people with 24-7 on- and off-the-job coverage.
AmTrust Financial is one of North America’s leading statutory disability insurance providers, offering a range of coverage options to small businesses. Our appointed agents focus on working with small to mid-sized businesses to ensure policyholders have the coverage needed to protect the business, secure lines of income, and provide employees with coverage they deserve in the event of off-the-job illness or injury.
AmTrust Financial has made a commitment to specialize in providing small business owners coverage options for complying with statutory Disability Benefits Laws (DBL). Our DBL team is a recognized leader in the statutory disability marketplace with a commitment that spans more than 50 years of providing DBL. Our high level of specialization offers direct access to our technical skills, competitive rates and superior services to support our customer needs.
A Trusted Statutory Disability Carrier
AmTrust is among the most trusted statutory disability carriers in the industry, providing coverage to more than 45,000 employers in New York and New Jersey.
We are the largest private workers compensation carrier in the state of New York, as well as the leading provider of workers’ compensation coverage in the United States. As an appointed agent with AmTrust, you gain access to highly competitive commissions made possible by our strong reputation and track record within the statutory disability insurance marketplace.
Manage Statutory Disability with Ease
AmTrust Financial combines a rich product suite, online advantage and superior service model to make doing business easy for our valued agent partners.
- Choose from product suite of statutory and varying levels of enriched benefits and bind online.
- Excellent commissions.
- On-demand systems and process training for all agents.
Appointed agents have access to our streamlined online portal, with fast policy issuance and 24-hour access to individual coverage details and regulatory forms. An AmTrust appointed agent can quickly and easily bind a statutory DBL policy or choose a DBL Deluxe plan from our enriched coverage options, for small business owners with fewer than 50 employees through AmTrustOnline. Agents can also use AmTrustOnline to help clients with more than 50 employees find the perfect policy by inputting a few details in a short online form.
Agents can offer insureds statutory disability and workers’ compensation insurance with around-the-clock coverage for illness or personal injury, whether individuals are at work or at home. Our appointed agents also enjoy a simplified claims process through single-carrier coverage of workers’ compensation and statutory disability, resulting in your policyholders receiving faster benefits payments in the case of challenged workers’ compensation claims. That’s 24/7 coverage for your policyholders, on the job or off.
We offer an absence management program that automates employee leaves and handles absences from beginning to end. We create customizable and comprehensive solutions for each client based on what is right for their culture, employee experience and business goals.
As of January 1, 2018, all existing and new Statutory Disability policies will include New York Paid Family Leave. This is an employee paid benefit that will provide up to 12 weeks of job-protected paid leave to address family related issues including:
- Bonding with a newborn, adopted or foster care child during the first 12 months after birth or placement.
- Caring for a seriously ill family member.
- Addressing important needs related to a family member’s military service.
AmTrust Meets the Needs of our Agents
When you choose to become an insurance agent
with AmTrust, you’ll become part of an organization focused on generating steady, stable and positive growth. Your career as an agent will prosper with our multi-tiered carrier approach, giving a competitive advantage with pricing flexibility. We are committed to ensuring that our agents and policyholders have the service and support they need to succeed.