Estimated Payroll Reporting
While it is important that policyholders report their payroll on time, we recognize that may not always be possible. In an effort to better help our customers, we have introduced a new estimated payroll feature. When a payroll report is not submitted, or is submitted late, SIF will estimate the policyholder’s payroll at an adjusted amount and bill the premium based on the adjusted estimate. Payroll estimations will help us limit cancellations for late or non-reporting.
Policyholders may contact us with their corrected payroll. Once we receive the updated payroll, we will bill an adjustment to the original. We still encourage policyholders to report their payroll on time. If you have any questions, please contact your underwriter.