Outsourcing Article

PRSIF issues final statement and preliminary premium

The Puerto Rico State Insurance Fund (CFSE for its acronym in Spanish) issued the Workers’ Compensation Premium Notice for the Final Premium Statement of the fiscal year 2018-2019 and the Preliminary Premium 2019-2020, for those policies that were not filed electronically.

Every insured employer must meet the payment requirements of any outstanding balance during the first or second semester of the Preliminary Premium 2019-2020.  Failure to pay full amount of premiums within the specified terms, will result in the suspension of the insurance coverage.  Employers may qualify for a 30-day extension of unpaid balance upon written request to the CFSE.  Payments can be made in cash at the appropriate Regional Office and by mail, using personal check, money order or certified check.  In addition, payments can be made by electronic transfer or through the interactive website using electronic checks.

Employers who have not received the Workers’ Compensation Premium Notice should contact the appropriate CFSE Regional Office or can access their own CFSE interactive account, to prevent the suspension of the insurance coverage.

To validate the application of the experience system on any credit or surcharge granted in the preliminary premium 2019-2020, you must refer to the “Regulation of the Classification Plan Based on Experience” issued by the CFSE on July 29, 2019.

Links:

CFSE Website

http://web.fondopr.com/es

CFSE Online Account

http://web.fondopr.com/es/transacciones-linea

CFSE Forms – Classifications Manual 19-20

http://web.fondopr.com/sites/default/files/manual_de_clasificacion_tabloide_2019-2020.pdf

Regulation of the classification plan based on experience

http://web.fondopr.com/sites/default/files/regulations/reglamento_del_plan_de_clasificacion_basado_en_la_experecia_espanol_0.pdf

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