An Innovative Approach
Tailored Solutions takes an innovative approach to ensuring that our agency partners only work with the best PEO’s. Most of our vendors have been in business for over 20 years. Many of them have gotten so large they now own their own A rated insurance companies. We all know how scrutinized insurance companies are from a financial perspective. Many of our PEO’s not only have to comply with the financial auditing of being a PEO, but also have to comply with state insurance commissioners due to owning a carrier.
This combination of duel ownership creates size and financial stability not often seen in the PEO space. These companies for the most part our in control of their own renewals. This allows for years of stable pricing that makes renewals much easier. Our PEO’s in required states do the following:
- Provide Multiple Coordinated Policies - where the client is the named insured and unit state cards and loss data are still reported to the state at the client level.
- Comply with Rule 4- In California state insurance regulations require a Multiple Coordinated Policy, some PEO’s don’t comply with this rule.
- File State Unemployment under the clients SUTA account- many states “prefer” the PEO to file SUTA under the clients account number at their current rates. Many of our PEO’s take this approach thus taking one more step to ensure compliance. The end result is that pricing is stream lined and taxes become a pass through. This enables a very simple cost analysis to determine exactly what the hard savings and value are from switching to a PEO.