Tag Archives: premium

Case Study: Ensuring an Accurate Final Premium

This entry is part 2 of 6 in the series Premium Audit

The idea of an audit doesn’t appeal to most people.

Even the simple word “audit” has a negative connotation. After all, what good could possibly come out of an audit? Does the IRS ever give money back on an audit?

Fortunately, an insurance premium audit might be the one type of audit in this world that doesn’t necessarily mean doom and gloom. Instead, premium audits are designed to guarantee that business owners only pay the premium they truly owe rather than (more…)

10 Tips for a Smooth and Speedy Premium Audit

This entry is part 1 of 6 in the series Premium Audit

Premium audits are key to making sure you’re paying the right amount for protecting your business—and the process can sometimes result in a refund!

Approximately a month after your policy has expired, an auditor will contact you to set up a time to stop by. The auditor will let you know what records and documents you’ll need to present during the inspection so you can prepare.

For many business owners, this can be a stressful and scary process. With these 10 tips, however, you’ll be set for a worry-free audit. (more…)