Binding Procedures
The Agency and its Designated Producer DO NOT have authority to bind coverage on behalf of the FWCJUA, rather the FWCJUA binds coverage on its own behalf. Coverage shall not be bound by the FWCJUA until the Application for Coverage, with all necessary supporting documents and information have been provided and reviewed and an eligibility determination has been made. If it is determined that an Applicant is eligible for coverage and is ready to be bound, then the following binding procedures apply:
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For all eligible Employers, other than those formerly qualified as Individual Self-Insurers, coverage will be bound at 12:01 a.m. on the first day following the U.S.P.S. postmark time and date on the envelope in which the Application for Coverage and estimated annual or deposit and/or advance premiums inclusive of the flat fee is mailed, or the expiration of existing coverage, whichever is later.
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If there should be no U.S.P.S. postmark, coverage will be effective 12:01 a.m. of the date of receipt by the FWCJUA, unless a later date is requested.
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Applications for Coverage hand-delivered to the FWCJUA will be effective 12:01 a.m. the date following receipt by the FWCJUA, unless a later date is requested.
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Applications for Coverage sent by overnight or next day delivery will be effective 12:01 a.m. on the date of receipt by the FWCJUA, unless a later date is requested.
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A postage meter mail mark may be accepted in lieu of a U.S.P.S. postmark, only if the completed.
ACORD 130 FL is faxed in its entirety to the FWCJUA and the fax received date and postage meter date are the same. If these two dates do not correspond, standard binding procedures apply.
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For Employers formerly qualified as Individual Self-Insureds, coverage will be bound at 12:01 a.m. not later than sixty (60) days following the U.S.P.S. postmark time and date on the envelope in which the Application for Coverage and the estimated annual or deposit and/or advanced premiums are mailed, or upon the expiration of existing coverage, whichever is later.
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If there should be no U.S.P.S. postmark, coverage will be effective 12:01 a.m. not later than sixty (60) days following the date of receipt by FWCJUA unless a later date is requested.
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Those Applications for Coverage hand-delivered to FWCJUA will be effective 12:01 a.m. not later than sixty (60) days following the date of receipt by FWCJUA unless a later date is requested.
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If coverage is bound pursuant to the above, the FWCJUA shall issue a thirty (30) day binder with copies to the Agency or its Designated Producer as well as the Insured and the State.
The FWCJUA cannot bind coverage if the Employer fails to meet any eligibility requirement as set forth in the Plan of Operation or otherwise prescribed by the Board.
Under no circumstances will coverage be bound at a time earlier than 12:01 a.m.
Binding may be delayed and an Application for Coverage may be rejected if the submitted Application for Coverage is not thoroughly completed and the required documents and information are not submitted.
Coverage requests submitted on anything other than the approved application forms or without premium will be returned, unprocessed, and no binding date will be reserved.
The following are the main reasons why Applications for Coverage are returned without coverage or binding is delayed:
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UCT-6 or IRS tax form 941 not attached.
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Insufficient deposit and advance premiums.
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No list of employee names.
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Related entities are not noted on the Application for Coverage and a fully completed ERM-14 form is not provided when necessary. |