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Premium Audits – Paying Undisputed Premiums

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Paying The Undisputed Premiums Requirement

The undisputed premiums after the audit should be paid to the carrier.  We have received a number of questions on how to proceed if there is a Workers Comp premium dispute on how much premiums are owed. For example, I received this question last week.

Time Clock for Audit Undisputed Premiums Concept
(c) 123rf.com

 We are disputing a premium that was added in at audit time by the Workers Compensation auditor. As we are unsure of exactly the total amount owed, do we have to make a provisional payment or can our company wait to pay until all disputes are resolved?

 All states have on their books that any undisputed premium should be paid on receipt of the premium bill. Your company is not required to pay the disputed amount until you have resolved the issue with the insurance carrier that has billed your company. Using the dispute process to hold off paying a bill can ruin what would have been a good working relationship between your agent, insurance company, and your company.

Finding out what your company owes in a premium dispute should be initiated as soon as possible. Paying an estimated amount is not sufficient. Your company should not underpay or overpay in this situation.

Worried Woman Doing Undisputed Premiums Finances
StockUnlimited

As I have said many times in this blog, over 90% of the employers that have overcharges or their Workers Comp premiums have a gut feeling something is wrong. We have a list here that may turn on that gut feeling.

I have had clients and peers say that sometimes I sound like I am a very pro-insurance company. Actually, I am pro-the rules in place. As Charles Givens once said, “If you want to win, you have to play by their rules.” You can still make sure you are paying the right premium for Workers Compensation and follow the rules in place – better known as your Workers Comp policy.

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management 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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