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Premium Auditor – What Information Can They Examine At Audit?

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Workers Comp Premium Auditor Can Look At All Records 

We often receive this question in a phone call from an employer who has just been through a Workers Comp audit.  The employer is usually frustrated that the insurance company’s premium auditor has asked for so much information.

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According to your Workers Comp policy, the auditor has a right to examine all records that are in a  company’s possession. The auditor will usually examine various forms of documents that are the norm for a payroll audit.  However, the auditor can ask for any and all documents they need to finish the audit.

The best way to proceed is by pre-audit planning.  Prepare the same documents that the auditor asked for the previous year and provide those along with an Excel sheet or a QuickBooks summary report.  We never recommend having the audit at an off-site location such as the accountant’s or bookkeeper’s office as these seem to cause many inaccuracies in the audit as the auditor is not on-site.

If you do not remember what was asked for last year during the premium audit, you will need to provide the work comp premium auditor with all the documents (in a very organized manner) that feed into your audit.  Often, the premium auditor will send a letter requesting certain documents.  If you do not understand what is needed or have questions about the audit, it is best to call or preferably email the auditor before they arrive at your place of business.  Providing organized documents to the premium auditor is key.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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