Billing & payments

It is the responsibility of policyholders to pay all premium payments when due.

Payments may be made online, by mail, or delivered in person.

Policy numbers and/or invoice numbers must be written on checks for mailed payments. Please allow sufficient time for SFM Risk Solutions to receive your check by mail and post payment to your account.

Forms of payment

SFM Risk Solutions accepts online payments, as well as checks and money orders in the exact amount mailed or hand-delivered.

Payments in the form of check or money order, in the exact amount, can be mailed to:

SFM Risk Solutions
P.O. Box 9403
Minneapolis MN 55440-9403

Note: Please make sure the policy number and/or invoice number is identified on your payment.

If payment needs to be sent "overnight mail," please send to:

SFM Risk Solutions
3500 American Blvd, Suite 700
Bloomington MN 55431

Payments for renewal policies

Renewal payments must be postmarked on or before the renewal policy’s effective date, and must be received within ten (10) days of the effective date.

If the payment is received more than ten (10), but not more than 20 days after the effective date, SFM Risk Solutions will issue a new policy with an effective date of one day after the payment is received. The policy expiration date will remain the same.

If payment is received more than 20 days after the renewal effective date, the employer must reapply for coverage by submitting a new application to the Minnesota Workers' Compensation Insurers Association (MWCIA). The payment will be returned.

Installment plans

SFM Risk Solutions may allow an installment plan, which is a system for paying your insurance premium in fixed amounts at specified intervals. This is only an option on policies with current policy coverage and the premium is greater than $2,000.

Call SFM Risk Solutions at (952) 838-4430 to set up an installment payment plan.

Financed policies

Financed policies set up by an agent can be cancelled by the finance company if the employer fails to make payment to the finance company. It is important to note that SFM Risk Solutions is not the finance company. Financed policies are subject to audit.

Unpaid audits

SFM Risk Solutions sends unpaid audits to collections after the payment time frame has expired.

Cancelled policies

If you miss a payment, you must reapply for coverage. You will also need to complete a short-term audit on the cancelled policy. A short-term audit is done during the policy period to assess accuracy of the classifications and premium.