Things are changing rapidly across the country with new legislation related to PFL for coronavirus. Besides maintaining our position as one of the top insurance wholesalers in New York (and beyond), we are striving to be your COVID-19 insurance resource center in New York and across the northeast U.S.
Even before COVID-19 hit the U.S., the DBL Center had been on top of changing paid family leave benefits in Massachusetts and Connecticut – leading to relationships with brokers in new regions.
Whether you’ve been part of the DBL Center family for decades or have recently started writing your policies through us, we compiled a list of 10 things we bet you didn’t know about DBL Center, one of the top insurance wholesalers in New York, serving the tri-state area, New England, and insurance brokers across the U.S.
1. DBL Center’s proprietary Broker Dashboard app makes it easy to remotely manage policies wherever you’re working.
By now, most insurance brokers in New York, New Jersey, Massachusetts, and Connecticut have transitioned to remote work as part of shelter-in-place or stay-at-home orders from the governors in their states.
As a cloud-based app, DBL Center’s Broker Dashboard makes it easy for our brokers to log in from any computer or mobile device with an Internet connection. We introduced our Broker Dashboard three years ago to make it easier for brokers to manage their policies in a world just beginning to embrace a mobile workforce.
Now, the Broker Dashboard has become an essential tool during the pandemic, enabling brokers to continue to bind policies and manage accounts while they practice social distancing and work from home.
2. When you bind DBL / PFL in real time, it is automatically linked to your personalized Broker Dashboard.
Even as we fight COVID-19, business continues. Brokers can bind DBL and PFL in real time through our website and new accounts are automatically linked to your personalized Broker Dashboard for easy remote management.
3. DBL Center brokers receive customized Broker Dashboard reports of renewals, cancellations and reinstated policies every two weeks, making it easier to track what you earn – and what you keep.
Reports are automatically emailed on the first and 15th of every month, enabling you to provide your customers with proactive service and also see where your book of business stands at a glance.
4. DBL Center’s chat feature makes it easy to reach a knowledgeable DBL Center rep to answer questions or write policies at any time.
Pandemic or not, we are here to answer your questions and help you bind new policies. You can start a chat with us any time, from any page of our website. Get answers to questions about new legislation related to coronavirus, insurance claims during the pandemic, or anything else related to PFL or DBL in your state.
5. In the past three years, DBL has expanded its offerings from NY, NJ and Hawaii into Massachusetts and Connecticut as a result of new Paid Family Leave policies.
Our home state of New York set the precedent for generous Paid Family Leave policies three years ago and DBL Center was at the forefront of helping brokers transition to DBL policies with PFL riders. Now, we are here to help Connecticut and Massachusetts brokers write Family Medical Leave Act (FMLA) coverage in their own states.
6. DBL Center is your go-to source for ever-changing COVID-19 legislation as it relates to paid leave and disability benefits.
We recently launched a COVID-19 resource center for brokers writing DBL and PFL in New York. We were one of the first in our industry to report on the federal Families First Act and how it will affect insurance claims. We are working virtually round-the-clock to provide updated news and information as it happens.
7. DBL Center’s COVID-19 Claim Pre-screening software can save brokers time by weeding out ineligible PFL or DBL Claims related to the coronavirus.
Many people are trying to make PFL claims due to the coronavirus. But the legislation is very specific as to who qualifies for PFL during the coronavirus. Our pre-screening software saves brokers time by enabling business owners, HR representatives, and individuals determine if they or their employees qualify for PFL as a result of coronavirus. In many cases, the answer is no and they should be applying for aid through the Families First Act or filing for unemployment.
8. DBL Center’s video series, Rep Roundtable, spotlights top insurance carriers discussing industry trends.
Our highly regarded video series helps you get to know the people behind the policies you write, follow emerging industry trends, and get ideas to improve your business.
9. DBL Center is a second-generation, family-owned business founded by David Cohen and now owned by his son Michael Cohen.
David Cohen launched the DBL Center in 1976. Michael Cohen took over as President and CEO after his father’s passing. Michael has expanded the business to provide FMLA coverage in Massachusetts. He has also introduced state-of-the-art technology making it even easier for brokers to “keep more of what they earn,” in the words of the late David Cohen.
10. DBL Center is your white-label, white-glove back office team to get your customers the lowest premiums and best service.
David Cohen started The DBL Center based on a business model that followed the boutique hotels he loved to visit on vacations, delivering white-glove, concierge-level service to brokers in a way that was unprecedented at the time.
David Cohen’s legacy lives on in the creativity, vibrancy, and innovation Michael brings to the company. DBL Center continues to deliver the same level of customer service as it always has, leveraging carrier relationships and cutting-edge technology to provide brokers with the lowest premiums available and the highest levels of service.
by Dawn Allcot
In an attempt to keep the economy moving and provide Americans with the financial relief they need during the COVID-19 pandemic, the Federal government has introduced the “Families First Coronavirus Response Act.”
Beginning April 2, this act provides emergency paid sick leave benefits to employees unable to work for a variety of reasons. Employees may be eligible for paid leave if they are unable to work because they are:
Employers with fewer than 500 employees must provide two weeks’ worth of paid sick leave. Employers will receive tax credits to offset these costs, hopefully minimizing the financial impact on their business.
Employees are also entitled to up to 80 hours of paid sick time at 2/3 the regular rate of pay, and an additional 10 weeks of paid family leave if the employee is unable to work because they need to care for a child whose school or childcare provider is closed for reasons related to the COVID-19 pandemic.
It’s important to note that this paid leave coverage is from the federal government and is not related to NYS PFL.
The legislation also ensures that employees do not have to use any other paid time off in lieu of federal paid leave benefits. Employers also cannot mandate that employees find replacement workers.
Until April 2 when Families First goes into action, New York State has stepped in to help employees with COVID-19 Emergency Paid Sick Leave, compensated in many cases through New York State DBL and PFL benefits. To help employees stay afloat during this challenging time, the state has waived the five-day waiting period before PFL benefits kick in.
Employers with fewer than 10 workers and less than $1 million in annual net income will still rely on DBL and PFL benefits for their employees, paid concurrently for a combined $2,884.62.
Those with 10 or fewer employees but net revenue exceeding $1 million, or employers with 11 to 99 employees must provide workers with at least 5 days paid sick leave, not counting any PTO they have accrued in the past. After that, employees can make a concurrent PFL / DBL claim for paid leave from Day 6 onward.
Businesses with 100+ employees and public employers are fully responsible for full salary continuation for a minimum of 14 days.
PFL programs only pay out for the intended duration of the quarantine period, which is 14 days. However, if the employee has not exhausted their paid leave from New York State by April 2, those benefits will end regardless. Employees will have to file a federal claim to begin collecting benefits again, this time under the Families First Act. Benefits under the Families First Act apply to companies with fewer than 500 employees.
It is not easy balancing the economic well-being of our nation with the health and safety of our residents. It’s a challenge many business owners grapple with, as well, during this trying time.
In addition to lowering the federal interest rate, the U.S. government has introduced – or is in the process of introducing — legislation that will help small and large businesses stay afloat while we fight the pandemic with social distancing and isolation.
Last week, the Federal Reserve introduced the Money Market Mutual Fund Liquidity Facility, a program that lends money to banks to purchase assets from money market funds. Lending will not affect bank capital requirements, according to finance site Investopedia.
The government also introduced the Term Asset-Backed Security Loan Facility (TALF), enabling the purchase of asset-backed securities backed by auto loans, student loans, and small business loans to unfreeze credit and help stabilize the economy throughout the pandemic and during the economic recovery period afterwards. These measures will run until September 30, 2020, unless they are extended at that time.
The Fed is also working on a Main Street Business Lending Program. We will reveal details as they become available.
Ultimately, avenues will be available to keep large and small businesses afloat and give them access to the funds they need through loans and tax credits. Here at DBL Center, we will do our best to keep you apprised of changing legislation as it pertains to our brokers and their customers.
Stay safe, stay healthy, and know that the DBL Center is here, as always, to serve as your back-office staff as we get through these trying times together – remotely.
by Michael Cohen