WOODLAND HILLS, Calif., April 11, 2017 /PRNewswire/ -- Farmers Insurance®, one of the nation's largest insurer groups, is expanding the availability of its recently launched Farmers RealTime BillingSM option for small business owners to remove some of the hassles associated with validating payroll information for Workers' Compensation coverage. Following the successful rollout of Farmers RealTime BillingSM last fall, Farmers will now offer business owners in California, Idaho, Montana, Nevada, Oregon and Utah the opportunity to help better manage their cash flow, while also helping reduce the headaches often associated with the annual premium audits that may be required.
"Farmers RealTime BillingSM is already helping many of our small business customers become smarter in the way they approach Workers' Compensation coverage, and I am pleased to extend the convenience and efficiency of this product to even more business owners," said Svetlana Bronshteyn, director of commercial product development for Farmers® Business Insurance. "We're constantly seeking new and innovative ways to enhance our services, and Farmers RealTime BillingSM is the latest in a series of continual improvements we're making to help meet the changing needs and preferences of our customers."
Farmers RealTime BillingSM makes Workers' Compensation coverage simpler and more cost-effective for businesses by linking payrolls directly to Workers' Compensation policy premiums, taking the guesswork out of estimating annual payrolls. Premiums are billed based on actual payroll, which may help improve business cash flow and reduce exposure to large audit balances due at the end of the policy term.
"In addition to preventing financial surprises, Farmers RealTime BillingSM helps customers plan and manage cash flow, avoid large annual lump sum premium payments, and breeze through Workers' Compensation audits because premium is based on actual data versus an estimate," added Bronshteyn.
Business owners wishing to learn more about Farmers RealTime BillingSM are encouraged to contact their local Farmers agency owners or visit Farmers.com/business.
About Farmers Insurance
"Farmers Insurance®" and "Farmers®" are tradenames for a group of affiliated insurers providing insurance for automobiles, homes and small businesses and a wide range of other insurance and financial services and products. Farmers Insurance is proud to serve more than 10 million households with over 19 million individual policies nationally, through the efforts of more than 48,000 exclusive and independent agents and approximately 21,000 employees. Farmers Insurance Exchange, the largest of the three primary insurance insurers that make up Farmers Insurance, is recognized as one of the largest U.S. companies on the 2016 Fortune 500 list.
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SOURCE Farmers Insurance