Challenge

A small condominium association in Orlando was audited by its insurance carrier. Members were told that the association owed more than $16,000 in unpaid workers' compensation premium from the previous year. Further, they were told that their coverage would be canceled for failure to pay.

When members asked their payroll service (who employed the insurance agent) for an explanation and help, they were simply told to pay the bill.

The association turned to Hylant for help.

Solution

Immediately, the client executive from Hylant counseled the association to send a written dispute of the audit to pause coverage cancellation, and to request a copy of the audit report.

Next, reviewing the audit findings, the Hylant risk expert discovered that a large part of the issue was missing proof-of-insurance certificates for the association's subcontractors. Armed with the list of subs, the association was able to obtain most of the missing certificates.

Finally, the Hylant client executive confirmed that the association had a workers' compensation backstop policy in place. This meant that even if the carrier canceled the insurance coverage, the association would be protected until it could secure a new policy, which gave association members some peace of mind.

In the end, the association paid $4,000 instead of $16,000, and they worked with their Hylant client executive to secure a new workers' compensation policy with a more responsive carrier.

When purchasing insurance coverage, who you choose to work with is as important as the price of the policy. Part of the Hylant promise is to be there when our clients need us—always.