Workers Compensation Audits

Many of our clients ask about the audit process.

Workers comp audits are performed because of the precise nature of rating for the premiums associated with workers compensation policies.  These policies are calculated as a rate per $100 of payroll.  If you have a great year you might add several new employees and if it’s a tough year, you might reduce the number, both effecting the premium of the policy.

The audit comes in because the insurance company needs to charge for the additional exposure and refund you for any reduced exposure.

It is very important to work with the auditor.  If you have any questions about the process, we can help.  An error in your audit can cost you, easily, 100% of the premium.  We work with our clients to make sure they don’t overpay for this coverage and are fully aware of the process of the audit and how to protect against uncertainty.

Some companies have come to us with an outstanding, unpaid, audit.  It is very important that this be cleared up.  If there is an unpaid balance, the insurance companies will check and you will not be able to buy coverage in the future.  This is very important to address.  We can help you address this and satisfy the insurance company.

If you need help with audits, please contact us.  We can help you!

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