A Great Premium Audit Classification Codes Changes Question – Be Careful Here
Earlier this morning, I received a great follow-up question about great premium audit class codes. Yesterday I posted on how changing classification codes can backfire in certain instances. I received two questions since that asked – Why then should our company even try to review our premium audits or use your services if we are going to end up paying more $$$?
That is a very fair question. The point I was trying to make about yesterday’s article was that without non-agent professional help, what looks great on paper at the beginning can be a nightmare if all facets of a request for a change in Classification Codes or another factor such as reserves are not fully explored from step one.
When we do premium audits, we run many tests to make sure that at the end of the day, you are not paying more than you were originally billed for your Workers Comp. A full review of your Workers Comp situation results in us writing a report making recommendations on how to proceed with your insurance policy and audits.
The example that I gave yesterday was actually from a live audit situation that was overnighted to us to see if we could fix the situation. I was attempting to send out a warning to our blog readers to make sure all the numbers have been calculated on every part of their Worker Compensation insurance policies.
As I have posted very often, if you have a gut feeling that your Workers Compensation situation is not quite right, then do pursue that feeling. Business owners, risk managers, safety officers, and other key company personnel usually know when something seems off in their workers compensation policies and programs. However, please make sure that all angles have been explored before you contact your insurance carrier.
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