State Fund Today

To help you secure coverage sooner for your prospective customers, we recently automated our Broker of Record (BOR) process. On April 17, we installed changes in BindNow modifying when and how to upload a BOR letter. The most notable changes with new business BOR requests are:

• All new business BOR letters must be submitted through the BindNow portal as of April 17.
• You will be able to submit BOR letters in BindNow for new business submissions until 11:59 pm the day before the effective date.
• You are required to legally attest in BindNow that your BOR letter is valid and signed by the employer before you complete the submission process.
• As the second broker entering a BOR letter for a new business submission, you will be able to view the quote for the majority of small business accounts, or submit the account to underwriting for Middle Market and Large/Specialty accounts.
• For new business submissions as the second broker entering a BOR letter, if the BOR letter is uploaded 5 business days or fewer before the policy effective date, you will be able to bind the policy for the majority of small business accounts.

Please note:

• Renewal BOR letters will continue to be submitted via email to BORDesk@scif.com.
• As of April 17, we reduced the BOR rescission period from 10 calendar days to 5 business days for all policies (new business and active policies). State Fund business days are defined as Monday through Friday, excluding Saturday, Sunday, and holidays.

If you have any questions about the Broker of Record process, please visit our BOR Process page or reach out to our Broker of Record team at BORDesk@scif.com or (888) 302-3540.