For employers with fluctuating payrolls and workers compensation premium above $30,000, PremiumSync® provides a pay-as-you-go solution for managing your program. Through this payroll reporting and billing program, eligible policyholders can sync up their workers compensation premium to their existing payroll frequency. Benefits include:
Cash Flow Management
By paying workers compensation premium in sync with payroll frequency1, organizations can more accurately budget their workers compensation expense as their payrolls fluctuate.
Streamlined Audit Process
Workers compensation premium is calculated in sync with the employer payrolls reported throughout the life cycle of a policy. Reporting payrolls accurately and over time may reduce the possibility of premium fluctuation during the audit process at the conclusion of the policy term.
Easy & Convenient
PremiumSync is administered through an easy-to-complete payroll reporting template and automatic recurring payments via our Pay Online application2.
Setting Up Your Program
Complete your PremiumSync
Submit your payroll reporting file to Key Risk
every time you pay your employees.
Enroll in automatic recurring
payments via Pay Online.
1. Payroll frequency may be weekly, bi-weekly, semi-monthly or monthly. For PremiumSync clients with monthly payroll reporting frequency, a 10% deposit is required at policy inception.
2. Enrollment in automatic recurring payments via Key Risk's Pay Online application is required for PremiumSync clients.