Two new billing plans in the region: Fiscal installment plans & front-loaded installment plans

We are excited to introduce two new billing options in the region, designed to provide greater flexibility and convenience to policyholders.

Regional fiscal installment plan:

Since many public bodies operate on unique budget cycles, we have developed fiscal installment plan options. This plan will have monthly, quarterly, semi-annual, or annual installment options. With fiscal installment plans, the initial installment will be due on the 25th after the renewal date.

Government entities that have been on a prepay plan in the past and are restricted from paying premiums before the first day of their fiscal budget year will be offered a fiscal installment plan at renewal. These entities could be counties, municipalities, political subdivisions, school districts, water districts, or some other type of government or government-affiliated entity. Policy-specific questions can be directed to your underwriter.

Important notes for the fiscal installment plan:

The signed Notice of Election (NOE) or written bind request must be received before the renewal effective date. Estimated payroll will continue to be necessary.

Regional installment plan:

Prepay plans will now be referred to as regional installment plans. Regional installment plans will continue to be available with monthly, quarterly, semi-annual, or annual installment options. The initial installment will continue to be due on the 25th before the renewal date. Estimated payroll will continue to be necessary along with the signed NOE, or written request to bind.

Installment plans (Effective 1/1/25)

There have been no changes to the Service Center installment plans, however they are included below for ease of reference. This table is in reference to the renewal billing process and due dates.

Front-loaded installment plan:

When possible, front-loaded installment plans may be offered as an alternative to collateral deposits. As the name suggests, the initial installment will be slightly larger to account for credit risk. This new plan is available in the region now. With the enhanced accessibility and flexibility, we are ready for new submissions!