FAQs

Frequently Asked Questions about PEO

Do you have questions about PEOs, Workers Compensation, and the services we offer? Read our FAQs below before getting started.

FAQs about PEO and Workers Compensation

Frequently Asked Questions

PEO is an acronym for “Professional Employer Organization.” For insurance agents, PEO brokers are the smart choice for client accounts that are difficult to insure. Not only will it help you provide the best possible coverage for your client, but it will also save you time and administrative responsibilities.

According to the National Association of Professional Employer Organizations, a PEO is an “organization that provides an integrated and cost-effective approach to the management and administration of  human resources and employer risk of its clients, by contractually assuming substantial employer responsibilities and risk, through the establishment and maintenance of a co-employer relationship with client’s employees.”

A PEO will handle the following for your insured:

  • Workers’ compensation
  • Payroll
  • Tax payment liabilities
  • Human resources

With a PEO, the employer will have less administrative responsibility. PEOs are an efficient solution for workers’ compensation, payroll, tax payment liabilities, and human resources. 

Full PEO services can be provided by PEO brokers in every state.

Workers’ compensation can be provided by PEO brokers in every state.

  • Multi Coordinating Policy is used to provide workers’ compensation and employer’s liability insurance with a standard policy covering only the direct workers. With a Multi Coordinating Policy, each company has its own standard policy covering its workers using their company name and FEIN.
  • Master Policy is used to provide workers’ compensation and employer’s liability insurance with a standard policy written in the name of the PEO and covering all workers and clients that work with that PEO.

One criticism of PEOs is that they are unsafe. However, with PEO Insurance Brokers Network, our PEOs are diligently vetted. Each PEO is financially stable with large deductibles and collateral help by the carrier for safety. The PEOs in our network are audited regularly with calls for replenishment as needed.

When it comes to workers’ compensation, PEO brokers are your one-stop shop. A PEO can handle every type of workers’ comp risk except asbestos abatement.

Co-employment is a common practice among PEOs. This is the process of the PEO co-employing the insured’s employees by becoming the employer of record for tax purposes.

Employee leasing is another common practice among PEOs. This is a temporary employment agreement with a specific start and end date. Most commonly used in the staffing industry, employee leasing is well-suited to business owners with new workers for a set time frame that don’t want to deal with the administrative hassle.

When in a co-employment arrangement, the client provides the staff while the PEO handles the administrative side of things. In this scenario, the employee essentially has two employers. In a leasing scenario, the PEO supplies the new workers to the client.

LCF is an acronym for “labor contractor for.”

When you request a quote from PEO Insurance Brokers Network, we will respond as quickly as possible. Quote times range from same day up to 72 hours.

Every client needs to know how many claims are filed under their insurance policies. When you work with PEO Insurance Brokers Network, your clients will receive their own loss runs.

Each client in a Multi Coordinating Policy (MCP) state will receive their own policy number. In Master Policy States, the policy number is shared.

Yes, PEO Insurance Brokers Network always ensures that your client is able to transition to the market after using one of our PEOs.

If you’re looking to save money, we recommend companies have a minimum of four employees. However, in some situations, companies with as little as one employee may benefit from working with a PEO.

With PEO Insurance Brokers Network, we never charge a minimum premium for full PEO programs. On our workers’ comp programs, the minimum premium is $50,000 of the annual premium.

There are no product requirements when you work with PEO Insurance Brokers Network.

Ready to find out more? Getting started with PEO Insurance Brokers Network is easy.

01.

Fill out the form below.

02.

A representative will reach out to you.

03.

Set up coverage for your insured.

Warehouse Industry – Forklift Accidents

Find Workers’ Compensation Coverage for Your High-Risk Insured

Your insured’s industry, Ex-Mod, claims history, or previous coverage problems should not automatically prevent you from finding a solution.

PEO Insurance Brokers Network helps agents navigate difficult workers’ compensation placements across construction, transportation, healthcare, staffing, roofing, tree service, manufacturing, warehousing, recycling, logging, cannabis, security, USL&H, and other high-risk industries.

Explore the industry-specific pages above to learn more about available solutions, or contact PEO Insurance Brokers Network to begin finding the right PEO or workers’ compensation program for your insured.