A vitally important, but often overlooked service, is the proper determination of premium. All workers' compensation policyholders receive a final premium audit subsequent to their policy expiration. This confirms that class codes, exposure base, and total premium have been properly utilized and calculated according to National Council on Compensation Insurance (NCCI) standards. In addition, any errors that are detected are corrected. For many policyholders, this audit is conducted in person at their place of business, thereby giving the customer the opportunity to provide input into the audit process, provide additional documentation to support a requested change and the time to discuss with the auditor the results of the audit.
In addition to the in-person final premium audit, some policyholders with customized plans may seek help during the policy period, and for them we offer courtesy preliminary audits. These audits are designed to help the customer organize their records, properly account for all payroll by class, and generally help identify and report the correct premium during the policy year. Courtesy audits are designed to strengthen customer relationships, and, in particular, to help avoid premium surprises at year-end.