NJ State Disability Maximum Benefit 2019: Do Your Customers Know Their Rights?

Make sure your customers understand the NJ state disability maximum benefit 2019 and more

The NJ state disability maximum benefit 2019 is in full effect as of January 1, 2019, for workers who have become injured, disabled, or given birth any time within the 2019 calendar year.

The NJ state disability maximum benefit 2019 is $650 per week. The maximum benefit for 2019 is up from $637 in 2018. The new rate is applicable only for employees who make a claim in 2019 and is not available retroactively or for injuries or illnesses from 2018.

How Are NJ TDB Benefits Calculated?

The employee’s maximum weekly benefit amount is calculated based on two-thirds of their average weekly wage, based on earnings in the eight calendar weeks before disability began. The weekly wage may include overtime, tips, and cash value of other renumeration, such as employee bonuses.

If the average weekly wage is less than the average weekly wage for the past 26 weeks, the employment may request a recalculation in writing to the Division of Temporary Disability Insurance. This assures payment is fair and remains close to a living wage for the temporary disability benefits applicant.

Disability payments will not begin until seven days after the disability claim is filed and disability begins, and payments cannot exceed 26 weeks within one disability period. Covered government workers must first use all available sick leave.

If combined with renumeration from the employer, the weekly NJ maximum disability benefit cannot exceed the regular weekly wages immediately prior to the disability. For instance, if an employee is paid weekly, and goes out on disability mid-week between the pay cycle, his first disability check plus his next paycheck cannot exceed the prior weekly paycheck.

In addition to the new, higher NJ state maximum disability benefit for 2019, there are a few things your customers should know about NJ TDB, to ensure they are in compliance with New Jersey state laws and treating their employees fairly.

NJ TDB Regulations Your Customers Should Know

As an insurance broker in the state of NJ, whether you are selling health insurance, life insurance, or ancillary benefits, you can take this opportunity to help your customers understand NJ TDB compliance laws. This can help set up a conversation about the benefits of privatizing their TDB policies for enhanced benefits, faster payouts, and better service.

Employers and HR directors should know that a notice outlining employee’s rights under NJ TDB, including the NJ state disability maximum benefit 2019, should be posted in a place where all employees can view and read it, typically an employee break room or other gathering place.

Employees should also be informed about NJ temporary disability benefits when they are first hired, if an employee notifies the employer that they are taking time off for a situation that could be eligible for NJ TDB benefits, or any time an employee asks for information about their temporary disability benefits.

Does It Pay to Privatize TDB for Your Customers?

Many New Jersey business owners aren’t aware they can privatize TDB for better service and the equal (or better) benefits at the same rates.

The state of NJ is backed up on processing temporary disability claims, resulting in benefit delays. If an employee needs help filing the forms or isn’t sure which form to file, it can be difficult to reach someone in the State of New Jersey Department of Labor Division of Temporary Disability Insurance.

In addition, a private TDB policy gives your customers many other benefits, including disability payments in the form of direct deposit rather than a debit card. By privatizing their TDB package with a major carrier, they may be eligible for rate discounts on ancillary benefits, too.

As a broker, when you privatize your customers’ TDB and write the policies through DBL Center, you’ll gain access to our Broker Dashboard to track revenue, commissions, and renewals. Using our Broker Dashboard puts all your clients’ information in one place, under one password, in an easy-to-use app that you can access from your office or on-the-go from any mobile device.

Right now, only 2 percent of all businesses in New Jersey write their TDB policies through a private carrier.

The market is wide open.

The opportunity is there.

Start the conversation by letting your customers know about the new NJ state disability maximum benefit 2019. Then show them what they have to gain with private TDB coverage, because the advantages go far beyond the amount of money claimants receive.

Want more tools to help you sell NJ TDB? Check out our new NJ TDB Resource Center here.


Are You Selling DBL Coverage and Ancillary Benefits to Your Customers Who Need It?

Coastal Insurance offers tips to expand your book of business with strategic cross-selling of home insurance, DBL coverage, and ancillary products

By David Clausen, Coastal Insurance

If you’re like most P&C brokers, NYS DBL and NJ TDB insurance aren’t your only niches. Most brokers sell a variety of lines, whether it’s healthcare, business insurance, or personal lines of coverage like home insurance.

But you may not be thinking of ways to cross-sell your lines to expand your book of business and increase your commissions without cold calls or prospecting for new clients.

When you get in the habit of consultative selling, which includes getting to know your customers, their businesses, and additional insurance needs they may have, you’ll discover avenues to increased profits.

Mandatory coverage like workers’ compensation and NYS DBL coverage, along with enriched DBL, provide excellent upsell opportunities. Many business owners don’t realize they need this coverage even if they only have a few employees. Even if they know about statutory DBL coverage, they may not recognize the opportunities available with enriched DBL and ancillary benefits.

As their trusted insurance broker, you can help make sure they are protected from nearly any contingency. Chances are, you are already taking some of these steps. But are you closing the deal?

These tips, garnered from years of experience selling home insurance and other personal and business lines to Long Island-based customers, can help you expand your book of business.

1. Look for opportunities to upsell complementary insurance lines by getting to know your customers.

In Coastal’s niche market of home insurance for high-net-worth homeowners, many of our best clients also own their own businesses. This means they need workers’ compensation insurance and statutory disability coverage in New York State.

Ask your customers, “Who is currently writing your statutory DBL coverage?” to uncover opportunities.

With the introduction of Paid Family Leave as a rider to DBL, they might be looking to shop their policy around, since some carriers have stopped providing DBL.

2. Don’t forget about your customers who hire domestic employees.

Most Coastal customers who aren’t business owners are c-level executives, celebrities, and other high-net-worth individuals who may hire domestic employees to help run their households. A lot of people don’t know that workers’ compensation and NYS DBL coverage is mandatory in New York for full-time domestic employees or for domestic employees who live in your home, even if they don’t work a full 40-hour week.

This includes nannies, au pairs, housekeepers, gardeners, chefs, drivers, personal assistants, and anyone else who works for an individual. Even if people may treat their nannies or housekeepers like family, the State of New York classifies them as domestic workers or residence employees – and they need to be insured as such.

There can be hefty fines for failing to provide the proper insurance coverage for domestic workers, not to mention the liability if an employee gets hurts on the job. Brokers are doing a service to their customers by letting them know what employee coverage is required.

As with any job, providing ancillary benefits to domestic workers can also help improve retention rates and reduce sick time.

3. Discuss the potential for ancillary benefits.

Whether your customers are business owners seeking to hire the best employees, or individuals with a team of domestic help, they may not have considered ancillary benefits as a low-cost way to recruit and retain employees.

Benefits like Group Life, vision, and dental coverage are still highly sought after by workers. In a Harvard Business Review study, 88 percent of employees said they would consider accepting a job with a lower salary if the position had better health, dental, and vision benefits than the job with the higher pay.

Explore these possibilities with your customers, and they will look to you as a trusted business resource rather than just someone selling insurance products.

4. Educate your customers about enriched DBL.

NYS DBL coverage provides a bare minimum to help an employee who is ill or injured (while not on the job). DBL pays out just 50 percent of an employee’s salary up to $170 per week for 26 weeks.
Enriched DBL is a powerful retention tool for middle managers who exceed the maximum payout but may not have private disability insurance or a savings account to help get them through a medical emergency.

With the introduction of Paid Family Leave as a rider to DBL coverage in New York, many employers are looking to enrich DBL benefits in order to provide coverage comparable to PFL for employees who don’t have, or plan to have, families or may want a robust benefits package for themselves.

PFL was the big news in the insurance industry in 2018, but many people still aren’t aware of the policy changes. Stay on the forefront, educate your customers, and they will trust you to write their policies for personal and business insurance.

5. Offer the best rates by bundling coverage.

When you take advantage of The DBL Center’s carrier relationships, you can bundle lines to provide your customers with the best rates for DBL, ancillary benefits, and more.

Why would they go to any other broker if you’ve positioned yourself as a one-stop-shop for their business and personal lines of insurance coverage?


DBL Center Acquires DBL Advantage, Starts the New Year with Major Growth Initiative

Top New York insurance wholesaler announces the acquisition of DBL Advantage Etc. Ltd

Effectively immediately on January 1, 2019, the DBL Center Ltd. has acquired DBL Advantage Etc. Ltd., a New York-based licensed General Agency specializing in NYS DBL, Paid Family Leave,  NJ TDB and group ancillary benefits. The synergy between the two company’s insurance lines, as well as the mutual carriers and industry partnerships developed by both firms over several decades, made the acquisition the next logical step in The DBL Center’s growth.

DBL Center: Celebrating a Rich History and a Strong Future

The DBL Center was founded in 1976 by David J. Cohen. Now under the guidance and leadership of Michael Cohen, the company is one of the largest insurance wholesalers in the New York Tri-state area. In 2014, The DBL Center Ltd. acquired Combined DBL, a Long Island-based General Agency, to expand its ability to serve customers in the NJ TDB, NYS DBL, and group ancillary markets.

In addition to these noteworthy acquisitions, the past decade has brought unprecedented growth, market expansion, and new technologies to the company. The acquisition of DBL Advantage is a testament to, and a direct result of, DBL Center’s rapid expansion and market position.

How the Acquisition Will Affect NJ TDB and NYS DBL Brokers

Expanding The DBL Center’s market share and increasing the general agency’s leverage in the marketplace, the acquisition provides outstanding benefits to new and existing DBL Center brokers. The acquisition promises to strengthen the position of The DBL Center and its brokers in the statutory disability, PFL, NJTDB, and group ancillary markets, resulting in lower rates, higher commissions, and more options.

“The combination of premium between DBL Advantage and the DBL Center enables the DBL Center to provide brokers with higher compensation on new DBL and PFL business placed after the first of the year and moving on through 2019,” says DBL Center President and CEO Michael Cohen.

“New brokers that came to us as part of the acquisition will enjoy additional office staff to answer all their questions and to provide the full, white-glove back-office support DBL Center is known for,” Cohen says. “With generous commissions, multi-line discounts, and the most advanced technology available to P&C brokers, we have no doubt that our newest customers will view the acquisition as a favorable transition, and we welcome DBL Advantage brokers to the DBL Center family.”

White-Glove Support and the Latest Technology

The DBL Center will provide new customers with a designated account manager for over- and under-50 employee cases, as well as sales representatives to assist in the cross-selling of ancillary product lines.

“Working with DBL Center, brokers will discover multiple ways to round out their book of business and earn additional compensation through the sale of Group Life / AD&D coverage, group long-term disability, dental, and vision benefits,” Cohen says.

In addition, new brokers will gain free access to the DBL Center’s proprietary Broker Dashboard, a cloud-based app that enables brokers to track accounts and renewals, receive monthly reports on cancellations and reinstatements, and receive an earnings report on a monthly, quarterly, and annual basis.

With the white-glove service brokers have come to expect for more than 40 years, along with the latest technology and innovative solutions to the challenges today’s NJ TDB and NYS DBL brokers face, DBL Center is ready to move to the next phase of growth.

“To say we are excited about the future is an understatement,” Cohen says. “As the NYS DBL and NJ TDB markets change and evolve, The DBL Center keeps pace, providing our brokers with all the support they need to thrive.”

 


Artificial Intelligence and the Future of P&C Insurance

Artificial intelligence (AI) has become prevalent in every industry and in many homes, as well. If you’ve asked Siri to help you book a reservation at your favorite restaurant through OpenTable or used Alexa to create a playlist for a cocktail party you’re hosting, you’ve used AI.

In business settings, AI is beginning to help people schedule meetings, sift through resumes to find likely job candidates, and even provide customer service through chatbots online.
What Is Artificial Intelligence?

You’ve probably heard the phrase Artificial Intelligence many times and may even have a hint about what it means. You may have also heard another closely related term: Machine Learning.
An AI computer can act and react in ways similar to a human being. In other words, it can appear to think, and it can learn based on past experiences.

Machine learning is the means by which computers gain artificial intelligence.

In 2016, technologist, futurist, and investor Andrew Ng wrote, “If a typical person can do a mental task with less than one second of thought, we can probably automate it using AI either now or in the near future.”

This may be a vast simplification – or perhaps an over-statement – of AI’s capabilities. AI excels at pattern recognition, data sorting, voice recognition, and even responding to simple inquiries.
With this in mind, it’s easy to pinpoint some areas where AI could streamline insurance renewals, recordkeeping, audits, and bookkeeping for insurance professionals in the next five to 10 years – and perhaps even sooner.

How Artificial Intelligence Can Help Insurance Brokers Increase Sales and Commissions

Many brokers today use limited business intelligence analytics to track their business, but most of the activities are tracked manually, which means increased overhead and extra time spent staring at spreadsheets.

DBL Center’s Broker Dashboard can streamline many of your business intelligence processes, including tracking renewals, notifying staff of late payments, and tracking commissions. In the future, it will be able to track data across all your P&C accounts, not just policies purchased through The DBL Center.

But this is only the beginning. Future versions of these powerful business intelligent (BI) engines are nearly destined to employ AI and machine learning. The next iterations of Broker Dashboard may be able to analyze data faster, recognize relevant patterns, save brokers time, and potentially increase sales.

What Will the Broker Dashboard of the Future Look Like?

The potential for AI in the insurance industry in the future is incredible. Just as AI capabilities advance in the fields of healthcare and human resources, the insurance industry needs only embrace AI’s potential to streamline their business and earn more.

The Broker Dashboard of the future may be able to use artificial intelligence and machine learning to:

Predict which clients are likely to pay late so brokers can take pre-emptive action. Unlike running a credit check or looking at past behavior of that client, the AI algorithm can look at past behavior of clients with similar characteristics to predict future behavior of new clients. Brokers can take proactive steps to ensure bills are paid on time with reminder notifications or perhaps phone calls.

Identify good candidates for upsells like enriched DBL and ancillary benefits. AI could help increase the success rate of sales calls. Rather than taking a shotgun approach to try to sell existing clients bundled benefits packages, AI can help brokers identify highly-qualified leads most likely to say yes. Brokers will be more productive and earn more by delivering the benefits their clients really want.

Track the reasons behind cancellations. What if you could increase your retention rates by understanding why certain clients cancelled and take steps to retain similar clients? It’s always cheaper to keep a customer than to make a new one. By pinpointing cancellation patterns, AI can help you increase retention rates and keep your brokerage growing.

Track successful existing clients and identify likely prospects. If you are like many brokers, you’ve been working on building your database of prospects through social media, inbound marketing, direct mail, and in-person networking. AI is well-suited to compare that list to a list of your most successful clients. AI can help you cull down your massive database to find top prospects who are not only likely to say “yes.” It may also be able to pinpoint clients who will pay on time, stay with your company for years, and purchase multiple lines, including DBL, business insurance, home insurance, group life, and ancillary benefits.

Stay Ahead of the Curve

AI can take a lot of the guesswork out of insurance sales with business intelligence analytics. AI can recognize patterns of behavior and help brokers capitalize on all the data they have at their fingertips today.

Brokers who adopt these advanced technologies as they become available will save time, earn more, and stay ahead of the curve.

With our new broker dashboard and other business intelligence tools within reach, DBL Center can help.


Are You Losing Customers Because They Don’t Understand PFL Billing?

Paid Family Leave became a fact of life in New York very quickly. The statutory benefit, written as a rider to DBL coverage, is ethically responsible and financially needed for New York families. But business owners and brokers weren’t prepared for the mayhem that PFL billing would bring.

I sat down with our President and CEO Michael Cohen so he could explain the challenges of PFL and how DBL Center has found solutions to these challenges for its brokers.

What has been the greatest challenge you’ve faced with PFL?

Once we got past the initial customer education aspects of PFL – letting our brokers and their customers know about this new benefit – we faced the additional hurdle of PFL billing. The New York State government implemented this policy to be phased in over four years, without proper recourse when it comes to giving carriers or brokers the information they need to calculate costs or to bill DBL with a PFL rider correctly.

This has resulted in a higher than normal level of non-pay notifications. New York businesses, large and small, are having their DBL policies cancelled due to billing errors and inconsistencies stemming from this misinformation and miscommunication.

Here at The DBL Center, we are tracking our brokers’ policyholders who are currently in non-pay status, and sharing that information with the broker, so they can fix the issues and increase their book’s retention.

Writing new policies is one thing, but growing a business is not just about how much money you make – it’s about how much money you keep.

Tell us how The DBL Center has stepped in to support brokers and face these challenges around PFL billing?

Behind the scenes, the DBL Center has been working, just as our brokers’ accounting departments have, to find ways to accurately bill PFL.

I began an audit one year ago while coming up with a snapshot of my agency’s statutory book of disability in New York to have a benchmark of what to expect. This put me in a better position to finalize the Broker Dashboard and Net Revenue Tracker, which emanated from the manual methods my father, founder David J. Cohen was using to balance his general ledger.

I realized I could not only turn something antiquated around, but also convert the database we used for our audit into a free Dashboard given to my producers, allowing them to track revenue and policy status for DBL, PFL, and ancillary benefits.

The launch of the dashboard on September 26, 2018 represents an important piece in solving the PFL puzzle.

The Net Revenue Tracker, its more robust companion app, allows brokers to track all policies within their brokerage – not just those purchased through and managed by The DBL Center.

With the PFL rate going up by 24% in January, what can brokers expect in the future?

Quite honestly, if carriers can’t accurately bill PFL, our brokers will be looking at even more unhappy customers when the rate rises.

Our Broker Dashboard provides a solution. In addition to tracking revenue for DBL policies and ancillary benefits, the Broker Dashboard lets brokers know when a policy has been cancelled or is pending cancellation.

Sometimes, the customer has gone out of business, moved out of New York, or decided to move their business to another agency due to no fault of the broker. That’s important information for a broker to be aware of.

For those policies listed as “cancelled for non-payment” or “pending cancellation,” PFL billing errors may be to blame.

So the Broker Dashboard gives producers the information and knowledge they need. Where do they go from there? How can they fix those billing errors to retain their customers?

That’s where DBL Center can help. Thanks to our extensive knowledge of PFL and our relationships with carriers, we can get to the heart of your customers’ PFL problems. We can prevent those policies from cancelling or even have policies reinstated, while helping to preserve important customer relationships.

Your customers trust you. Our brokers can trust DBL Center to navigate PFL until the program starts to run itself, resulting in streams of reliable passive income.

Our Broker Dashboard helps you find out where you’re losing money, and DBL Center’s legendary white-glove service can help you make it right.

Aside from the obvious revenue, why is it so important for brokers to retain their DBL / PFL clients?

We know that implementing PFL hasn’t been the easiest thing our brokers have ever faced. We know this because the DBL Center has been tackling the same challenges. When our brokers make money, we make money. We’re all in this together.

You can continue to look at DBL as either a challenge – or an opportunity.

By continuing to sell DBL and letting DBL Center service the policies through our experienced back-office staff, you have the opportunity to show your customers the true value and worth of relying on your brokerage. Business owners need DBL and PFL coverage. If they don’t get it from you, they will find another broker willing to provide it.

You can use our Broker Dashboard to stay proactive and solve your customers’ PFL problems – potentially even before your policyholder is aware of an issue.

Let DBL Center help you provide your customers with answers to all their PFL billing questions, and you will maintain their trust. They will continue to rely on you for workers’ compensation insurance, major medical, and ancillary lines of coverage.

You’ll watch your bottom line continue to rise as your book of business grows.

It all begins with having the tools on hand to retain your current customers and our Broker Dashboard, combined with our white-glove customer service, can help our brokers stand out from the competition.

Want to learn more about Broker Dashboard and Net Revenue Tracker? Reach out to us now.


King Associates and DBL Center: Merging Entertainment and Business

For more than 35 years, storytelling and enthusiasm help sell insurance

Incorporated as The DBL Center Ltd. since 1983, The DBL Center has many long-time, second generation clients. But few brokers have stories steeped in such rich New York history as Richard King, owner of King Associates.

Richard King was mentored by the late David Cohen, landing prestigious accounts that included The Garden City Hotel and Fairhaven Apartments when DBL Center was a brand-new wholesale insurance agency.

Later, King sponsored DBL Center President Michael Cohen’s admission into The Friars Club, the preeminent members-only club for entertainment professionals located in a five-story English Renaissance Tudor in Midtown Manhattan.

King says the key factor that has prevailed across two generations of DBL Center management is the enthusiasm of the team, which King shares as he reminisces about his mentors, offers tips for brokers, and talks about his involvement with the Friars and how it can help an insurance broker.

How did you first meet David Cohen and start doing business with The DBL Center?

I think David may have cold-called me, because he was very aggressive – just like my dad. I have to give you a bit of the history. It was because of my dad, Murray King, that Dave and I did business together.

My dad was raised in the Bronx with four brothers. When he grew up and got married, he became a math professor at City College. Then he started selling insurance with Hancock, in the 1940s, because he didn’t have a job one summer.

Selling door-to-door in Harlem, he made it big, with a lot of persistence through the years, as a one-man show.

I introduced Dave to my Dad, who was a powerhouse life insurance broker at the time. Dave loved Murray because they were both characters.

Murray was handling life insurance at the time for top real estate developers on Long Island, like Myron Nelkin, who built Fairhaven Apartments and the Garden City Hotel.

So we wrote life insurance and DBL for Fairhaven Apartments – 2,500 units – and the Garden City Hotel through DBL Center. I also handled a printing firm of about 400 other companies, and other Long Island businesses.

Dave was my guy.

What was it like doing business with DBL Center back then, 35 years ago?

I was writing life insurance and DBL. I would use DBL as the foot in the door, because nobody knew about it. Nobody knew it was an employer-funded, state-mandated benefit.

Back then, as far as back office support, it was all Eugene [Puleo]. Eugene was invaluable. Even after all these years, Eugene offers superb back office support, giving me prodigious confidence, accuracy, and the ability to make sales.

How was it different selling DBL back then from now?

It was all about in-person contact. There was no email. There were no excuses or delays because of the electronic convenience aspect. You did not have to wait for someone to reply. You did everything in person.

You made an appointment, you went in, and whether you were successful or not was up to you.

Dave abided by one-on-one communications. He had superior communication skills, just like my Dad. I was fortunate to have them both as mentors.

What set David and DBL Center apart from others in the industry back then?

The key word there is enthusiasm.

David Cohen had it. Murray had it. I had it. Certainly, Michael [Cohen, DBL Center President] has it. Beyond the education and everything else we need to sell insurance, enthusiasm is the key difference.

When someone sees our enthusiasm, we make the sale. Today, if I go in with Michael, we’re getting the client.

Tell us where the Friars Club connection comes in.

I met Michael when he was right out of college, and I remember thinking he had a great voice. Like his dad, communication was his strength.

I started talking to Michael about the Friars Club, and he said he wanted to join. I had been on the admissions committee for many years, and I’d been a member for 25 years, very involved with the club. So, I said, “Let’s go.”

He was the perfect candidate, so I sponsored his induction.

Michael has done a great job promoting DBL in conjunction with the Friars Club, booking comedians through the club, bringing clients there, and using it for networking.

For those who may not be familiar, what are the benefits of networking within the Friars Club?

The Friars Club is the largest entertainment club in the country, and it’s great networking. Two-thirds of the members are professional entertainers and the other one-third are non-professionals. But the celebrities and the non-celebrities are all on the same level.

When you bring clients there, you are including them in something special here in New York. You’re entertaining them like no other agent can.
Merging business with entertainment – that’s something Murray and David were brilliant at, and now Michael is doing it.

If you bring a prospect to the Friars Club, they are not leaving without becoming a client.

To learn more about booking comedians through the Friars Club for a holiday party or special event, call The DBL Center now.


NJ TDB Insurance News: New Jersey May Waive Signature Requirement for Privatized TDB

New Jersey brokers should be ready for this revenue opportunity with privatized NJ TDB


Did you know that 98 percent of NJ TDB temporary disability benefits policies are written by the state?

Even though privatized TDB provides better service and faster payouts than state-funded temporary disability insurance in New Jersey, most business owners don’t know privatized TDB is an option for themselves and their employees.

For New Jersey brokers, this represents a tremendous opportunity for increased revenue. Even though commissions may not be as high as carriers offer for some other types of insurance, including ancillary benefits, the total commissions can add up over time.

NJ TDB is a mandatory benefit, and once a broker has a company signed up for privatized TDB, they are likely to continue renewing year after year, providing largely passive income for brokers.

And the State of New Jersey now has legislation in the works which could make it even easier for brokers to help their customers privatize their TDB.

Why Privatized TDB?

Based on NJ temporary disability benefits law, any private TDB coverage must be equal to state-funded benefit amounts and duration of payments and have the same (or more liberal) eligibility requirements as the State Plan all at the same rates or better.

In addition to equal payments, which private NJ TDB must offer by law, many privatized plans also have faster service, payment choices in the form of direct deposit or a debit card, and an easier claims process.

The state of New Jersey is struggling to keep up with claims.

It often takes as long as four weeks from the date the claim is filed to begin paying claimants. In some cases, employees are back to work before they even begin to receive their disability benefits.

Often, this results in an already-overworked HR department spending time to help employees chase down their benefits. It can also affect employee morale and retention rates within a company.

No Signatures Required?

Currently, to switch to a private TDB insurance plan in New Jersey, employers must get signatures from 50 % + 1 of the employees in a company before making the switch.

But the New Jersey State legislature has introduced a new bill that would waive the signature requirement for employers to switch to privatized TDB.

This eliminates one stumbling block brokers now face in getting their customers to switch their NJ TDB policies to a private carrier.

Customer Education Is Key

Private TDB insurance offers equal (or better) benefits, faster payout times, and less red tape for employers, all at the same rates as the State Plan.

If someone were to offer you an equal or better product at the same price, wouldn’t you accept it?

If the State of NJ waives signature requirements to switch TDB to a private carrier, it removes the last stumbling block for acceptance.

But the responsibility will rest with brokers to let their customers know that privatized TDB is an option, that it is easier to obtain than ever before, and that it can vastly improve the level of service businesses receive when it comes to TDB claims.

What Brokers Can Do

As January 1 approaches and employers begin renewing their TDB policies and getting ready to sign on for another year with the state, brokers in New Jersey should write to their legislators and request that the state waive the signature requirement for switching to a private TDB carrier.

Then, begin a campaign to let your customers know private TDB is an option.

Use email marketing, blog posts, social media, webinars, and printed handouts to spread the word. Network at local business events. Write an article for your local paper.

The market is wide open, with 98 percent of New Jersey businesses still writing their TDB coverage with the state. It’s your turn to carve a slice of that pie.

Reach out to existing customers who write their other insurance lines with your company and let them know you can offer them a better product at the same price the state of New Jersey offers. Use your reputation for white-glove customer service to sell TDB.

And let DBL Center help manage your TDB accounts, putting commissions in your pockets with a minimum of work on your part.

Need help getting your customers to switch?

DBL Center provides white-label, white-glove, concierge-level service to help brokers earn more.

Reach out to us today.


Dbl Center Adds Broker Incentives

Brokers who consolidate their business with DBL Center can earn up to $15,000 

The DBL Center held some in house celebrations last week as we settled into our new Melville, Long Island office. But it’s not just our employees who benefit from our continued growth.

Thanks to the industry relationships we have fostered over the past 40 years as a wholesale general agency, we are in a position to offer brokers industry-high base commissions as well as bonuses for consolidating their book of business with DBL Center.

Broker Incentives by the Numbers

When you consolidate your book of business with DBL Center through select carriers, you’ll receive a 22.5% base commission, and a one-time bonus based on the dollar value of the new business.

When you move between  $20,000 and $99,999, you’ll earn a 5% bonus on all new business. Earn a 10% one-time bonus if your book, including DBL policies under and over 50 lives, is between $100,000 and $149,000.

It’s Easy to Consolidate

DBL Center is making it easy for you to move your book of business. Simply reach out to us for a spreadsheet detailing the information we need from you to help your customers make the switch. There is no need to fill out a new application for each case. Once the new policies are issued, you can cancel the existing in-force policies, save your customers money, and cash in on bonuses and generous commissions.

Earn More with PFL 

These broker incentives are a direct result of the introduction of PFL, a mandatory benefit written as a rider to DBL coverage in NY.

Not every carrier is writing PFL riders, so you may be in the process of helping your customers switch carriers. By letting DBL Center shop around for DBL policies for both under and over 50 lives, you may earn better commissions on PFL. DBL Center rewards you for a business move you may have to make, anyway.

PFL has had a huge learning curve for everyone, and our brokers deserve to be rewarded for their hard work and knowledge they provide to their customers. Together with our carrier partners, we are helping PFL pay off for our brokers.

Why It Pays to Consolidate Your Book of Business 

If you aren’t using DBL Center for DBL over and under 50 lives, you could be missing out on high commissions, bonuses, white-glove service, and the convenience of using one wholesale general agency for your whole book of statutory business. Having one point of contact, a professional you can trust if you have questions or need personalized service, is always easier. As DBL Center continues to grow, we can offer even more to our loyal brokers.

This fall, we will introduce our new broker dashboard, making it even easier for you to track all your DBL business and revenue from one intuitive app.

The DBL Center team keeps working hard to offer our brokers more and to make it easy to do business with us.

With our new broker incentives package, there was never a better time to trust us to write your disability policies, ancillary benefits packages, and more.

Let us know how DBL Center can serve you today.


5 Reasons to Buy Private TDB Coverage in NJ

Private TDB coverage in New Jersey delivers faster payouts, better service, cost savings, and easy commissions

Did you know 85% of business owners buy TDB in NJ (temporary disability benefits) through the state?

If private TDB coverage is so much better, why aren’t more business owners and HR directors switching?

Most New Jersey business owners simply don’t know there’s a better way.

That’s where DBL Center brokers come in.

You can gain your customers’ trust, increase business referrals, and earn commission on a mandatory insurance product by showing your customers the benefits of private TDB coverage.

1. Employees enjoy faster payouts with private TDB.
When your customers make a TDB claim through a private carrier, they can start receiving a check in as little as 7 days. Employees who make claims through the state insurance fund might wait months for their first check.

In addition, employees can choose to receive a debit card or check and even determine the schedule of their disability income, so they can stick to the budget they’ve established when they were working.

2. Get your questions answered faster with extended service hours.

Have a question about a NJ TDB claim after normal office hours? The Department of Labor Temporary Disability Insurance call center is only open from 8 am to 5:30 pm, Monday and Tuesday, and from 8:30 to 4:30 Wednesday through Friday.

Most insurance carriers have extended hours, and many even offer the ability to check claim status online 24/7. Plus, DBL Center brokers will be able to reach out to the DBL Center directly, 24/7, through the broker dashboard once it is launched this fall. There is no reason for anyone to stay awake wondering about the status of their disability claim.

3. Work with carriers who care.

We’ve all done business with state and federal agencies. The DMV. The state IRS. The post office. There is a reason Amazon uses its own delivery company. Government services typically involve a lower quality of service, slower response time, and lots of red tape.

When you work with top carriers to buy private TDB coverage, you can deliver a higher level of service than your customers would receive anywhere else.

You’ll gain access to the DBL Center’s back office staff to answer your customers’ questions, help process claims, and ensure your customers are getting the best rates.

4. Lock in low rates.
Will the state of New Jersey increase TDB rates? Every November, the insurance industry plays a guessing game before the NJSIF announces its rates for the coming year. If rates go up, you’ll be scrambling to write your customers’ policies with private carriers for more competitive pricing.

Why not beat the rush and help them switch to a private carrier now? You may even be able to lock in low rates for two to three years.

You can only switch to privatize TDB coverage on the first day of every quarter. Now is the time to start thinking about helping your customers make the switch on October 1.

5. Save money by bundling TDB with ancillary benefits.
From small businesses to large corporations, most companies want to save money. Even if the NJSIF premiums remain the same next year, your customers could still save money with private TDB coverage.

Most TDB carriers also provide voluntary ancillary benefits packages, including vision, dental, and group life coverage.

That’s something your customers won’t find with the state insurance fund. And if you bundle ancillary benefits with a TDB package, your clients can save money all around, while providing employees with an enticing benefits package that may help retention rates in their company.

Let The DBL Center Help Your Customers Switch
Making the switch to private TDB coverage isn’t easy. But it’s worth it.

When you work with DBL Center, we will shop around for you to find the best terms and service for your customers. Once you’ve made the sale, The DBL Center will provide your customers with the paperwork they need, walk you both through the process, and make sure the switch to private TDB coverage happens seamlessly. Your customers will feel good about the money they saved and the service they are receiving.

Learn more about how New Jersey insurance brokers are using private TDB coverage to increase their bottom line. Then reach out to your friends at The DBL Center to get started.


Insurance Agency Tax Time: How Are You Tracking Revenue?

Use this tax season to reflect on how you can improve processes in your insurance agency

It’s tax season once again and for insurance brokers, it’s also a good time to reflect on ways to improve business efficiency in your insurance agency.

For small to mid-size businesses in New York and New Jersey, including many DBL Center brokers, March means working with your tax accountant, sorting through receipts and expenses, running QuickBooks reports, and reviewing your annual revenue.

But there is a lot of data hidden inside those numbers besides just how much you owe the I.R.S. Are you tracking and leveraging your business analytics to their full capacity? The DBL Center is introducing a tool that will allow property & casualty and other licensed agents the ability to do just that.

DBL Center Offers Net Revenue Tracker Software to Insurance Brokers

QuickBooks and other accounting software provides reports to help you track income and expenses, but it is not tailored to an insurance agency. You can’t view the profitability of different types of insurance or different types of customers. You can’t track cancellation trends so you can improve customer retention. And you can’t reliably predict cash flow or opportunities for growth without a way to track renewals.

CRM software can help your insurance agency sales team track leads to generate new business. But someone in your office has to input the data and your sales team has to be invested enough in the process to use it.

Our new Net Revenue Tracker is tailored to P&C insurance brokers to help you manage all your accounts and spot opportunities for growth. It connects directly to your DBL Center back office so all the analytics you need are at your fingertips at any time, wherever you may be. The cloud-based software functions seamlessly and securely on any internet-enabled device, including a desktop PC or Mac, laptop, or Android- or iOs-based smartphone or tablet.

Grow Your Book of Business with NRT

The Net Revenue Tracker provides the information most important to help you grow your book of business, enabling you to track the profitability of specific accounts, track policy renewal dates so you can be proactive about renewals and up-sells, and view important business metrics at a glance.

You can view accounts by carrier to see where you might want to diversify to protect your business interests, and where it might benefit your customers to consolidate for better coverage and lower premiums.

And because it is based on software we’ve used here at The DBL Center for years, we know it is user-friendly to help you increase efficiency and streamline your business processes.

How Will The New Tax Laws Affect Your Insurance Agency – And Your Customers?

As you’re assessing your business processes to increase efficiencies and track your revenue more effectively, it’s also important to begin thinking about tax strategies for 2018.

This year’s tax season should be straightforward for most insurance brokers, or at least business as usual. The big changes went into effect beginning this year and will be reflected on corporate taxes filed in March 2019. Talk to your tax accountant about the new tax laws and how they may affect your business — and your customers’ businesses, for that matter.

With reduced or eliminated deductions for fringe benefits like transportation, meals and entertainment, employers and HR directors may be looking to enrich disability coverage and ancillary benefits to recruit and retain top talent. Our Net Revenue Tracker can help you spot these opportunities for increased sales with existing customers at your New York insurance agency.

Be one of the first brokers to catch a sneak preview of the software in a live webinar demonstration.

Schedule Your NRT Demo Now