Payments

FUBA Workers' Comp has a common anniversary date of April 1.  Policies not written on this date are pro-rated; however all payments are based on annualized premium.

Our Accounting Department processes all invoicing and premium payments for policyholders.  All payments are due in our offices on the 15th of each month. If a payment is received after the 15th of the month, it will be considered late and a 10-day notice of cancellation will be issued. 

There are three payment options:

Option 1 - Monthly Equal Pay

New Policies:

• 10% down payment of the annualized premium due at binding
• Pro-rated expense constant and terrorism fee required with down payment
• Remaining balance billed in equal monthly installments
• Payments due by the 15th of the month

Renewal Policies:

• Upon renewal, down payment is not required
• Expense constant and terrorism fee paid in full with first installment
• Remaining balance billed in equal monthly installments
• Payments due by the 15th of the month

Option 2 - Monthly Self-Audit

• To qualify, annual premium must be at least $10,000
• 15% security deposit required
• Payments due by the 15th of each month based on payroll incurred in the prior month
• Required to participate in our Quarterly Self-Reporting (QSR) Program
• Sole proprietors and partners are not eligible for the Monthly Self-Audit Plan regardless of premium size

Option 3 - Pay-As-You-Go Programs (Paycor, CPM, PayMaster, South Florida Payroll Services and CFO Today)

• If account has prior coverage, only expense constant and terrorism fee due at binding
• If account has no prior coverage, 10% security deposit required
• It is the agent's responsibility to request a pay-as-you-go plan with either Paycor, CPM , PayMaster, South Florida Payroll Services or CFO Today on new business submissions.

Pay-by-Phone: We can accept checks by phone.  Call the Accounting Department at 888-262-4483 and have the following information available: 1) whether the bank account is a business or personal account, 2) if a personal account, the first and last name on the account, 3) name of the bank, 4) nine-digit routing number, 5) bank account number, 6) payment date and 7) check number

Late Fees:  Upon issuance of a Notice of Cancellation, a late fee of $25 will be added to the next invoice.

Three-Strikes Rule: If an insured has more than two late payments during the Fund year, their policy may be cancelled with no option of reinstatement.

Down payments to bind coverage for new policies must be made by: (1) certified check from the insured, (2) money order from the insured, or (3) check issued by the agency on the agency’s business account.

Mailing Address:

FUBA Workers’ Comp
Post Office Box 1303
Tallahassee, FL 32302-1303

Overnight Address:

FUBA Workers’ Comp
116 South Monroe Street
Tallahassee, FL 32301

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