If your Massachusetts based company needs to get bonded, we encourage you to contact us,” says Michael Herranen, President. “Our experts in surety bonds can help you navigate the new MAPFML requirements and ultimately provide appropriate coverage.
PHOENIX (PRWEB) September 28, 2020
Surety bond agency Viking Bond Service, Inc. is now available to help clients meet updated requirements initially established by the Massachusetts Paid Family and Medical Leave 2020 Regulations (MAPFML). Beginning January 1, 2021, employees and other covered individuals will be entitled to various new leave benefits. Employers who desire an exemption from making paid leave contributions must provide self-insured documentation and a surety bond covering the estimated cost of benefits payments for one year.
“If your Massachusetts based company needs to get bonded, we encourage you to contact us,” says Michael Herranen, President. “Our experts in surety bonds can help you navigate the new MAPFML requirements and ultimately provide appropriate coverage.”
The underwriting department of Viking Bond Service will review the following criteria when considering surety bonds:
- Three (3) years in business
- Clean credit history
- Evidence of a plan administrator
- Employee count
For instructions on submitting a surety bond for self-insured private plans under MAPFML, go to https://www.mass.gov/doc/paid-family-medical-leave-pfml-contributions-bond-instructions-and-worksheet-for-april-1-2020/download.
For information on obtaining a surety bond through Viking Bond Service, call 1-888-278-7389 or visit https://www.performancesuretybonds.com/.
About Viking Bond Service:
Viking Bond Service, Inc. has been serving clients from coast to coast for over seventeen years and is a proven and established provider in the surety bond industry. Viking Bond Service has been trusted for providing a variety of surety bonds, including commercial, contract, or fidelity, and often with the lowest rates in the nation. As a longstanding member of the National Association of Surety Bond Producers, and with an A+ Rating with the Better Business Bureau, Viking Bond Service is committed to serving and assisting all clients in need of surety bonds. For more information about Viking Bond Service and surety bonds, visit https://www.performancesuretybonds.com.