Unemployment Risk Solutions provides a cost-effective alternative to paying state unemployment taxes so nonprofits, tribal and public entities can save money and allocate more time toward their mission.
Through a first-of-kind admitted insurance program, eligible employers can secure customized and cost-saving risk transfer alternatives to the state unemployment system.
Unemployment Options
Employers may be overpaying state unemployment taxes and subsidizing other employers within the state unemployment pool. Federal law allows certain employer types the option to opt out of paying State Unemployment Insurance taxes and instead reimburse the state for unemployment benefits paid to their separated employees.
Unemployment Risk Solutions can help organizations determine the best option for funding unemployment costs and save money by transferring risk to a fiscally strong insurance company, which can save organizations in excess of 30% annually.
Who We Serve
- 501(c)(3) nonprofits
- Public entities (state and local government)
- Tribal governments and their wholly-owned enterprises
Insurance Agents
We also work closely with licensed P&C insurance agents to determine which programs fit the employers’ needs and provide insight and decision-making guidance.
Unemployment Coverage We Offer
Our admitted insurance coverage offerings are available in all states plus the District of Columbia. Policy Limits and Self-Insured Retention are negotiable and customizable for each employer and two-year policy terms are available for new reimbursing employers. Our coverage options indemnify the reimbursing employer’s obligation to pay the state for any unemployment benefits paid to separated employees. Coverages Include:
First-Dollar Insurance
Coverage begins immediately and provides greater budget certainty with set quarterly premiums and optional Experience Refund Endorsement.
Stop-Loss Insurance
Coverage attaches in excess of a Self-Insured Retention. The insured is responsible for making payments directly to the state up to the Self-Insured Retention or they can utilize services for Great American to pay the state on their behalf.
NY Reimbursing Employer Unemployment Bond
In New York, a Reimbursing Employer Unemployment Bond is available on a stop-loss basis. Great American will pay the state for all benefits on behalf of the employer, taking the administrative burden off the employer.
State Unemployment Surety Bonds
15 states require reimbursing employers to purchase surety bonds as collateral.
Program Services
Unemployment Claims Administration
A Professional Claims Administrator will reduce unemployment costs, better manage the unemployment workflow, and provide helpful expert advice at each step, including the following:
- Professional unemployment claims management
- Hearing representation
- Auditing all claim charges from the state
Human Resources Tools
The following tools can be used to help ensure compliance with all state and federal employment laws:
- Employment law hotline
- Online policies, procedures and forms
- Sample Employee Handbook and Employment Policies
Outplacement Services
The following outplacement services are designed to shorten unemployment claims, protect your community goodwill, and take care of your separated employees:
- Job coaching
- Job search training
Identity Fraud Monitoring and Resolution
ID Fraud Monitoring and Resolution offers comprehensive identity theft, credit monitoring and financial protection for employees and unemployment claims fraud detection for employers.
- Credit Report Monitoring
- Data Breach Notifications
- Personalized Identity Restoration
Contact Unemployment Risk Solutions
Unemployment Risk Solutions is available to answer any questions about our unemployment programs or how to opt out of the state unemployment systems. Please contact our team or visit our forms page to access flyers and applications.