The past year has brought shake-ups for statutory insurance brokers.
Smart insurance brokers can easily find a silver lining in much of the new legislation. Opportunities exist for statutory insurance brokers to expand into new regions, upsell enriched coverage, and guide business owners toward the benefits of a private plan rather than writing their insurance through their state’s fund.
In fact, 37 states threw their hats in the ring this past election to pass Paid Family Leave acts on a state level. As more states embrace paid family leave legislation, it could ultimately become federal, where it would work in conjunction with the federal Family Medical Leave Act (FMLA), which offers unpaid job protection for those who are out of work due to illness or to care for family members.”
Moving into 2021, nine states, Washington D.C., and Puerto Rico offer statutory disability plans to employees. Of those states, only Hawaii, New Jersey, and New York provide options to privatize statutory disability through an independent insurance carrier.
Take a look at this chart to see which states offer self-funding options in lieu of the state plan, and also which states permit private coverage through an insurance company.
California, New Jersey, New York, Washington, Massachusetts, and Rhode Island offer Paid Family Leave as subsets of statutory disability plans. For instance, PFL in New York is written as a rider to DBL coverage.
In New Jersey, Family Leave Insurance is included automatically with TDB premiums. In Massachusetts and Connecticut, the Paid Family and Medical Leave Act covers both family leave and medical leave. It can be written through the state fund or through a private insurance carrier.
It is important to note that workers cannot collect statutory disability or paid family leave concurrently with unemployment insurance or workers’ compensation benefits.
Let’s take a look at the year in review and some of the changes that were instituted for statutory disability and family medical leave coverage across the U.S.
In 2019, New Jersey waived the signature requirement for employers to obtain temporary disability benefits coverage through a private carrier. In the past, employers needed to obtain signature consent from 50% + 1 of employees to privatize TDB in New Jersey.
This presented opportunities for brokers, since it became easier than ever to convince business owners to switch to a private carrier for superior service, more flexible benefits, and up to 20% cost savings.
In 2020, New Jersey increased TDB insurance premiums, but also expanded disability coverage up 85% of a worker’s average weekly wage, up to $881 per week. The state also expanded its Family Leave Insurance benefits and eliminated the 7-day waiting period to begin collecting FLI benefits.
The increased premiums give business owners more reasons than ever to write their TDB coverage through a private insurance broker.
New York State made headlines in 2017 when it introduced one of the most robust Paid Family Leave plans in all 50 states, rivaling California’s generous policy.
Benefits continued to increase through 2021, when they will reach a high of 67% of the current statewide average weekly wage (AWW). Workers can collect up to $971.61 per week in 2021.
With PFL benefits at their maximum, it’s more important than ever for New York business owners to consider enriching DBL coverage so it is in line with PFL.
Massachusetts announced the MA Paid Family Medical Leave Act, PFML, in the middle of the year, with coverage beginning January 1, 2021. These benefits cover paid leave to care for infants, or children newly adopted or fostered within the past 12 months. Additional benefits will roll out July 1, 2021, with time off to care for any family member with a serious health condition.
Following in the steps of neighboring New York and Massachusetts, Connecticut also introduced a Paid Family Medical Leave Act that goes into effect January 1, 2022, but employers must register with the CT Paid Leave Authority by December 31, 2020. Payroll deductions for PFML begin on January 1, 2021 for the state plan.
As more states add paid family leave benefits to their statutory disability programs, it’s important to understand the opportunities insurance brokers have to give their customers top-notch service, flexible claims, and potentially lower premiums through private coverage.
Reference the PDF here for clarity on the states currently offering PFL, FMLA and statutory disability or rolling out programs in the new year so you can be prepared to provide your customers with the best statutory disability benefits for their money.
To provide quotes for statutory disability for new customers, you’ll need a census containing the ages, genders, and salaries of all the owners and employees of the corporation. Reach out to The DBL Center through our chat box or call us at 631.293.5100 to get started.
by Dawn Allcot
Watching the Yankees on TV with my sons the other night, I had the thought, for the first time in my life, that we’re living in the future. The future we grew up with in fiction – the Jetsons and the rest of the science fiction we watched as kids – is here now. With the changes the pandemic brought to Major League Baseball, the Yankees were playing the Tampa Bay Rays at a stadium in California for the American League East title – as holographic fans cheered in the stands.
We hold multi-person videoconferences seamlessly. We have voice-controlled, artificially intelligent personal assistants. We work from home with powerful Wifi signals keeping us in constant contact with coworkers and clients. We carry around voice-activated mini-computers more powerful than NASA computers from 50 years ago in the palm of our hand. The latest iPhone carries more than 100,000 times the processing power of the computers that took Apollo 11 safely to the moon in 1969.
We have TVs we hang on our walls and phones we put in our pockets! But where are our flying cars? For a variety of reasons, that probably wouldn’t end well. The vehicles of the future are likely to be autonomous but not airborne.
In essence: The world is changing quickly. While the P&C insurance industry has not usually been ahead of the curve when it comes to the adoption of new technologies that is changing, too.
For years, The DBL Center has been breaking new ground when it comes to providing superior customer service and a tech-forward approach to statutory disability sales for our brokers.
We have to look back and laugh at this blog from January 2017, where we doubted the effectiveness of chat-bots and AI in the P&C insurance industry. The chat box we added to our site in 2019 keeps us in constant contact with our brokers to answer questions and improve the stellar white glove service we have always offered.
The chat-bot can answer basic questions 24/7 but can also put you in touch with a real live person from The DBL Center team to answer your questions in a timely manner. We love that technology helps us stay in touch with our brokers – so you can serve your customers better at any time of day in this “always-on” world.
Back in spring of 2017, The DBL Center also teased the introduction of a cloud-based application that would allow brokers to:
On August 8, 2017, the Broker Dashboard: Net Revenue Tracker desktop app was born. The Software-as-a-Service (SaaS) is a dashboard that provides our brokers with everything they need from an account management basis to compare premiums and bind policies easily from anywhere they happen to be. It is available free to DBL Center brokers for accounts you write through us.
Accessible from mobile phone, PC, or desktop computer, the Broker Dashboard was met with accolades from our brokers as a great way to stay on top of renewals and cancellations and to manage their business from anywhere.
And then the pandemic hit.
The Broker Dashboard became more than just a “nice-to-have” resource, but a necessity to allow our brokers to access information about their customers from anywhere – including their home offices. Brokers also receive bi-monthly reminders of cases that are pending non pay as a result of the extended grace periods due to the New York governor’s moratorium.
And then, in September 2020, nearly 3 years from the date of its launch, the Broker Dashboard got its own app in the Apple App store. Available for iOS users (iPhone and iPad mobile devices) the app brings all the functionality of the Broker Dashboard: Net Revenue Tracker SaaS to your mobile device.
When you’re on a mobile device, logging onto the web takes added bandwidth and can be slow to load. An app, on the other hand, is easy to access with just a click on your iPhone or iPad.
Just like the Broker Dashboard desktop app, the mobile app is free to our brokers for the accounts you write through The DBL Center.
User-friendly and intuitive, the app is the future of statutory disability insurance in New York, New Jersey, Connecticut, Massachusetts – and beyond.
If you’re interested in a free demo of the Broker Dashboard: Net Revenue Tracker and its new features, reach out today. You’ll gain free access to the Broker Dashboard for all your accounts.
The statutory insurance business is built on return customers and repetitive commissions. As my father, DBL Center founder David Cohen, used to say, “It’s not what you earn, it’s what you keep.”
Let The DBL Center help you retain more of your business – even in these challenging times. Schedule your Broker Dashboard: Net Revenue Tracker live demo with me today.
by Michael Cohen
Within the first few days of the coronavirus pandemic and the New York On Pause order, DBL Center President and CEO Michael Cohen felt the same as many of those in the insurance business did.
“When I first got news of this being a reality in New York, which is now a hot spot, I felt like I was back up against a wall,” he recalls. “I was nervous.”
He sprung to action immediately, though. He took what he learned from his decades in the statutory insurance industry and his knowledge of what technology can accomplish to create a solution to slow the onslaught of PFL claims. “I felt I had to do something to mitigate the claims,” Cohen says.
Within days of schools and businesses closing across New York State, and shortly after, through Massachusetts and New Jersey, Cohen and The DBL Center launched the COVID-19 Pre-Screening Software for PFL Claims.
A tool for insurance carriers to manage PFL claims that may not qualify, the COVID-19 pre-screening software requires employers to answer a series of questions to determine if their PFL claim is valid before requesting a claim form from the carrier. Many statutory PFL claims actually qualify for federal help under the Families First Coronavirus Response Act (FFCRA), which was enacted April 2, 2020.
The DBL Center also created a document to help show when an employee may qualify for PFL and when an employee would qualify for FFCRA aid, instead.
“Even though the changes related to PFL and FMLA [in Massachusetts] have been clearly stated, you’re still going to have some confusion at the employer level in terms of what is a valid COVID claim and what is not a valid COVID claim,” says Charles Callery, Regional VP for Lincoln Financial, one of DBL Center’s many preferred carriers. “I thought the software was perfect for that scenario.”
He added that he also sees it having long-term applications once the pandemic ends. “In general, it can help cut down on some of the administrative costs that we incur, and that others occur, taking in paper claims. I bet the industry still sees the majority of our claims in paper form, versus electronic, and this is a good first step to enter the electronic environment. It’s something the industry could use, because it pre-qualifies a lot of claims upfront.”
The Broker Dashboard Net Revenue Tracker was the first technological innovation from The DBL Center, an electronic version of the paper and pen ledger that Founder David Cohen brought to every meeting.
Designed specifically for DBL Center brokers, the Broker Dashboard helps agencies track cancellations and pending cancellations, new policies, and commissions, at a glance. A cloud-based app that gives brokers actionable insights to improve retention rates, the Broker Dashboard brings David Cohen’s paper ledger into the digital age and delivers it to the hands of every broker.
Michael Pellegrino, Lincoln Financial sales representative, reminisced about the way DBL Center tracked revenue when he first entered the industry. “I remember I’d come into your father’s office,” he tells Michael Cohen in the latest Rep Roundtable video. “He’d put down his pen and paper. He was keeping everything in order, but how time-consuming it must have been. “The fact that you took that pen and paper ledger and made that electronic is awesome!”
In addition to discussing the technology that sets The DBL Center apart, Cohen, Callery, and Pellegrino reminisce about summer get-togethers and talk about how the economy and the industry have changed in the past 20 years. Michael Cohen also reveals his secret to surviving the pandemic … all in the latest Rep Roundtable, brought to you by The DBL Center.
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.
Selena Kutschera, DBL Center’s Director of DBL and TDB never actually applied to work at DBL Center. She joined the family when DBL Center acquired competitor Combined DBL, a competitive insurance wholesaler in NY, in 2014.
How she got the job at Combined DBL, straight out of college with no insurance industry experience, is quite a story.
“I found the job listing in the newspaper,” she tells DBL Center owner and president Michael Cohen. “I begged for an interview, but they had already closed out their interviews because they knew who they were going to hire.”
Kutschera didn’t stop pushing for the interview, however, and, ultimately, got the job. Through her hard work and perseverance, she’s become a leader in wholesale TDB and DBL sales.
It was this tenacity that impressed DBL Center founder David Cohen at the time of the acquisition. “That was the kind of personality my father was looking for,” Michael Cohen recalls. “I remember him saying, ‘I don’t know if we’ll get the deal, but Selena will join us.’ We did make the deal and here we are, five years later.”
Read on to learn how Selena Kutschera is helping DBL Center brokers manage the challenges of PFL and prepare for new opportunities in New Jersey.
Then watch the video to find out Selena’s (second) favorite word, what musician she’s not-so-secretly obsessed with, and what she’d be doing if she wasn’t serving the DBL and TDB insurance needs at one of the top insurance wholesalers in NY.
Michael Cohen: What’s the most exciting thing that we’ve done as a team, in your opinion, since the acquisition?
Selena: The program – the Broker Dashboard. Just coming together and building something, changing the game.
Michael: How has that been an upside for you?
Selena: We can track now. We can track the business. We can track what we’ve lost, what we’ve gained, the brokers, who’s writing, who’s not writing. It just makes it easier.
Michael: Can you describe the process we use when we get together and track retention and new business?
Selena: When we look at our book through the Broker Dashboard, we look at what we can keep out of what’s lost. Our cancellations. We know DBL’s a moving target. Your DBL’s come on, they come off, there are non-pays all the time. That’s the first thing we address, the non-pays. Can we get them reinstated? If we can, that puts business back into the books.
Any time coverage is replaced, we want to find out why it was replaced. Was it something we lost? Did the broker lose it? Did they replace it on us, and why did they replace it? We have to analyze what happened—and why—to get that business back.
Michael: What has the feedback been from the brokers since we implemented the dashboard?
Selena: They’re surprised about their non-pays and what’s cancelled and what’s not.
Michael: Everyone thought Paid Family Leave was going to be a home run, but in the beginning, it wasn’t. Why? And what have you been doing to help overcome those challenges?
Selena: It just added another layer of tracking. Who doesn’t want to pay their PFL [rider]? Who didn’t think they needed Paid Family Leave? They pay the DBL; they don’t pay the PFL. That’s really been the issue. Now, we’re getting the complaints that the insured made the payment, but they only paid a portion of it, or they shortchanged it. So now it’s a matter of them understanding how to pay the bills.
Mike: What do you feel is the biggest dilemma in the overall statutory environment? You’re in the trenches and you’re also involved in commissions. What’s an issue for us that’s outside of our control as a wholesale insurance broker in NY?
Selena: I guess what’s outside of our control is just the insureds making payments. That’s out of our control as an insurance wholesaler in NY. Is the $170 [weekly] benefit in New York State for disability low? Absolutely.
What I do find is some employers want to buy up and some employers don’t want to hear it. I agree with the buying up because the reality is the Paid Family Leave is for somebody else—to take care of a baby, child, or family member—and the disability is for yourself. And if you need to go out on disability, why do you need to go out at a $170, when the PFL benefit is $750 and change? It’s $752 [for 2019].
Mike: Are you excited about what’s happening in Jersey? Explain that.
Selena: Absolutely! Jersey just lifted its signature requirement—there’s no more signature requirement to move to a private carrier. So, it makes it easier for us to write this product, as 98% of it sits with the state right now. And the benefit is going up tremendously.
If you’re shopping for a new insurance wholesaler in NY or NJ or need help writing TDB or DBL, let Selena Kutschera and DBL Center help you. Reach out today.
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.”
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.
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.
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.
The DBL insurance industry recently experienced a shake-up when New York State passed a law requiring mandatory Paid Family Leave coverage, to be written as a rider to NYS DBL policies. Several carriers exited the DBL insurance market because they didn’t want to write PFL riders, which left many brokers looking to replace their DBL policies.
Brokers had two choices: Lose the DBL business or leave their existing carriers to write DBL insurance policies elsewhere. DBL Center brokers who relied on DBL Center as their back-office staff were able to move those DBL policies with ease, impress their customers, and strengthen their position in the marketplace.
These brokers found that DBL insurance policies open doors to more business. This has always been true, but it’s even more relevant now, in 2018, when fewer carriers are writing DBL insurance coverage.
If you are the broker who can write these policies for New York State business owners, provide exemplary service, and build trust with your customers, they will come to you for all their insurance needs.
For P&C brokers, DBL insurance can act as your foot in the door, giving you the chance to write high-commission policies like home, auto or even umbrella policies for business owners and their employees.
Let’s look at some of the opportunities available to P&C brokers to expand their book of business with new and existing DBL insurance customers.
1. Smart business owners will consider expanding employee benefits packages with ancillary lines of coverage.
We’ve talked in-depth about enriching DBL coverage in light of the new PFL law. But business owners can also improve employee retention with ancillary benefits such as vision, dental, and life insurance.
The DBL Center can provide a discounted benefits package when you bundle these ancillary lines with an enriched DBL package, allowing you to provide your customers with even more value.
2. Business owners will rely on someone they can trust to write their personal insurance policies.
In addition to business insurance and employee benefits, business owners also need insurance for their personal assets. As an insurance broker, you know that many business owners possess one or more of the following: high-value homes, vacation homes, automobiles, recreational vehicles, or boats.
Once you’ve established trust as their broker of choice for mandatory DBL insurance or enriched DBL coverage, it’s easy to ask your business customers if they’d like a quote on an umbrella policy to cover their home/auto and other possessions requiring insurance. They might also consider purchasing life insurance through your brokerage.
Most consumers understand that when they do business through one company, they can get the best deals and preferred service as a loyal customer. It’s your job, as their broker, to remind them about your other insurance lines and the savings you can offer them. A new sale and a large commission check could be just that easy.
3. Business owners may refer their employees to you for their personal insurance coverage.
Not only do business owners have cars, homes, and boats to insure, so do many of their employees. What if you could earn referrals from your biggest accounts, just by providing excellent service and low rates to the owner of the company? You can increase your commission checks by writing homeowners’ insurance, auto insurance, umbrella policies, renters’ insurance, or whole- or term-life insurance policies.
In New York, DBL Center specializes in DBL, PFL and ancillary benefits. We couldn’t tell you how to sell your P&C lines or where to go for the best rates.
But we can remind you that almost every business owner needs DBL coverage. And with our back-office staff providing white-glove service, as well as our new Net Revenue Tracker app giving you fast, convenient access to all your accounts, we make it easy for you to sell DBL and maintain your DBL accounts.
By doing so, the DBL Center opens doors for you to expand your book of business with the lines that you know best such as health, life, home and auto insurance and umbrella policies.
Need more information about DBL and PFL? Need tips on marketing DBL insurance coverage? We are here to help. Give us a call at (631) 293.5100 or get a quick quote now.
We are well into 2018 and, as a New York insurance broker, you’ve got the basics of Paid Family Leave down.
It’s the new comprehensive, mandatory insurance that provides the financial support needed for new parents, military spouses, and those caring for aging or ill loved ones. It’s added as rider to your customer’s existing DBL policies in New York. That part should have already been done.
But now the fun for brokers begins, because your customers still have questions.
This is new territory for CEOs, HR directors, and insurance brokers, too.
But the DBL Center, with our commitment to white glove service, has the answers and PFL claim forms our brokers and their customers need.
We recently launched a new Paid Family Leave resource center. It’s a single-scroll page within our InsuranceWholesaler.net website that provides a host of information about Paid Family Leave in New York, including PFL claim forms, handy PDFs, and more.
We’ve heard from our brokers that many of their customers are looking for PFL claim forms. It’s important to note that The DBL Center does not process insurance claims. We are an insurance wholesaler dedicated to providing the best service to our brokers.
Because our job is to serve our brokers, we’ve stocked our Paid Family Leave Resource Center with handy links and PDFs, including the IRS form that describe the tax ramifications of PFL, and a document showing the current PFL rates.
We’ve also provided links to PFL claim forms. There are multiple PFL Claim forms. Which one you use depends on whether the paid leave is for bonding with an infant or adopted child, caring for a sick or aging relative, or caring for a family while a military spouse is deployed. We’ve provided links to all of them.
Finally, we’ve uploaded PFL claim forms branded for each of the three major carriers and have them housed in Dropbox for easy download. Get Shelterpoint, AmTrust, and Standard Security PFL claim forms here.
The DBL Center is proud to be the first insurance wholesaler to provide an interactive PFL calculator right on our website. HR directors, accountants, and CEOs can know the costs of PFL coverage before they call their broker.
Using our PFL calculator, employers will know how much their premiums will be so there are no surprises. After using our calculator, they will have gathered all the necessary information they need to provide so you can write the policy quickly and easily.
Change can be scary. We started talking about changes in our industry back in February 2017. Now it’s here.
In addition to publishing our PFL Resource Center, we are also partnering with top carriers like Standard Security, Shelterpoint, AmTrust, Hartford, and Guardian to present webinars explaining the specifics of PFL coverage and to better help their brokers answer specific customer questions.
Our marketing team is hard at work sharing our knowledge on LinkedIn and on our blog, and we are even publishing consumer-facing articles on top insurance carriers’ websites to provide actionable insights on transitioning to a world with Paid Family Leave while keeping workflow consistent and maintaining employee morale.
In short, we are deploying all our resources to make it easier for our brokers to continue providing stellar service to their customers, answers to their questions, and the resources and PFL claim forms they need to make a smooth transition.
FMLA vs PFL: The DBL Center explores the differences
Since New York introduced Paid Family Leave, there has been a lot of confusion. Brokers, HR directors, employers and employees are just beginning to understand what PFL means and who it will affect.
One point of confusion: Many people believe the Family and Medical Leave Act (FMLA), the federal law put into place during the Obama administration, is the same as New York’s PFL.
In fact, the two are loosely related, and can be applied in conjunction with each other.
But they are not the same thing.
FMLA vs PFL: What Is The Difference?
For starters, FMLA is a federal level law, while PFL provides benefits to employees at the state level.
The key difference in FMLA vs PFL is that FMLA is not a paid leave. It offers no compensation to employees taking time off. PFL in New York, on the other hand, provides both job protection and income for employees on leave.
Read on as The DBL Center, your expert in Paid Family Leave in the New York Tri-State area, explains more you should know about FMLA vs PFL.
What Is the Family and Medical Leave Act (FMLA)?
The Family Medical Leave Act was signed into law by the federal government to protect the jobs of employees who have to take time off for medical reasons of their own or to care for a sick or disabled family member.
When the employee returns from leave, the employer must be able to provide that employee with the same position they had before or one that is equivalent in pay, benefits, and status. While the employee is out on leave, the employer must also maintain their benefits at the same level as when they were working.
FMLA vs PFL: Who Can Make a Claim?
FMLA legislation applies to people who take medical leave for themselves or take time off to care for a loved one.
On the other hand, Paid Family Leave applies only to employees taking time off to care for family members. Employees can make a PFL claim to take time off to care for ill or disabled family members, infants, adopted or foster children within the first year of care, or any family member while a spouse in the military has been deployed.
Employees who are ill or injured, themselves, would need to file a DBL claim in New York to receive income while they cannot work. They are not eligible for PFL. However, the employee’s job would be protected on the federal level by FMLA if they meet the other requirements, such as total number of hours worked for that employer.
Eligibility Requirements for FMLA vs PFL
FMLA applies to companies with 50+ employees. PFL is available to any eligible employee working for a business with one or more employees. This makes PFL available to more New Yorkers than FMLA.
The employment requirements for PFL are also less stringent. Employees working 20+ hours per week must have worked for 26 consecutive weeks at their current, covered employer to make a PFL claim. Part-time employees who work less than 20 hours per week must have worked at least 175 days for their current employer.
On the other hand, employees must have worked at least 1,250 hours each month for the past 12 months at their current employer to qualify for job protection under FMLA.
FMLA vs PFL: Other Important Differences
There are a few other differences in FMLA vs PFL, such as how the federal government and the state government define family. For instance, the FMLA does not protect the jobs of employees who take time off to care for an in-law. Employees would make a PFL claim, instead, for income and job protection.
The rules of FMLA vs PFL also differ slightly for members of the military and their spouses.
Finally, the federal government offers FMLA time off in increments of 15 minutes, while employees make a PFL claim for time in days, which will gradually increase to a maximum of six weeks by 2021.
NJ Family Leave Act: What Is It?
To further complicate things, if you live in the New York tri-State area, you may also have heard of the New Jersey Family Leave Act. Where does NJ FLA fit in?
New Jersey’s FLA, similarly to the federal FMLA program, does not provide New Jersey workers with paid leave. It only offers job protection to those employees. New Jersey employees would make a TDB (Temporary Disability Benefits) claim to receive income if they are unable to work due to medical reasons.
Similar to PFL in NY, the FLA is broader than the FMLA in its definition of “parents.” New Jersey employees can take time off to care for in-laws, step-parents, foster parents, adoptive parents, or anyone with a parent-child relationship with the employee.
Putting It All Together
New York’s new PFL coverage puts our home state on the cutting edge of protecting and providing for employees caring for family members. It exceeds FMLA coverage in many ways, including a broader scope and paid benefits for claimants.
However, the FMLA was an important stepping stone toward PFL adoption. It is also important to protect employees in other states, who may not have access to PFL benefits to protect their jobs and provide them with a living wage during leave.
As a broker, it’s important to understand the difference in FMLA vs PFL. If your customers ask, you want to be prepared with the right answers. Presenting yourself as an expert in PFL coverage will help you gain the trust of your customers and pave the way to referrals and increased profits through the sale of enriched DBL and ancillary benefits.
PFL is Almost Here:
Visit our PFL resource center to be sure you are ready.