Workers Comp Premiums Most Common Error
The most common error in Workers Comp premiums and policies is one that I had to think over for a few days as there are so many. We are asked this question very often.
For quite some time there were so many answers that I could not actually give one answer. After reviewing hundreds of Work Comp policies and using statistics to quantify the errors, there is one that stands out as an obvious error.
The error we see most often is – you are going to have to contact us by email.
Check out our website at Contact Us Tab above for the email contact info. If you email us, we will answer the question by return email. You will have answered the question just by emailing us. That may sound odd, but it is true.
Thanks for contacting us about this very common workers comp premiums error. Update – this is an older article. You can now find the answer to this question by searching in the top right box of any page. Searching for the most common error or just error will list out a group of articles.
Thanks for reading this article and the other ones on this website.
Additional Update – The Most Common Work Comp premiums error is two-fold:
- Premium Audit – This one not only falls on the shoulders of the premium auditor. We often see insureds that have provided the wrong data to the audit such as not providing certificates of insurance for contractors or not using QuickBooks or their accounting packages properly to track employee payroll. The main premium auditor error we see is an auditor that is rushed to finish an audit.
- Reserving – Reserving becomes negotiable the day the claims adjuster increases the Total Incurred on a file. As with the premium auditors, the claims adjusters are usually time-stressed which causes them to miss something (subrogation) or overlooking a positive file development
The successful lower E-Mod employers are always looks for ways to lower their comp premiums.
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