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Hybrid Premium Audit Prep – Update to Last Week’s Article


Hybrid Premium Audit Prep – Changing the Paradigm For Employers

Last week, I promised that I would write or update an article to the Zoom Hybrid premium audit article.  Most of what this article covers is the same as the in-person and hybrid premium audit prep that I have covered in the past.  You can search for hybrid premium audits using the search box at the top right to see a few other articles on this subject.

pic of magnolia hybrid premium audit prep
Hybrid Magnolias – Public Use License – Burkhard Mücke

I have not recommended that premium auditors take a company’s records offsite, the pandemic has changed this paradigm significantly.   Rating bureaus have changed their rules to accommodate hybrid premium audits.

First Step in Hybrid Premium Audit Prep

The first step remains the same as for any audit preparation.  You should have received a letter from the premium auditor that requests materials that will need to be copied and mailed or scanned and emailed to the premium auditor.

Read the letter carefully.  One should only provide what is requested in the letter – no more and no less.  If you as the insured think the letter is too broad, contact the premium auditor and ask them to explain what they meant by the materials request.

If you need more time to prepare the materials, let the premium auditor know of the delay.

Second Critical Step – Organizing Records

The organization of the company records will always be the key to having a successful audit.  As I said in the article last week, neatness counts.  One common theme from my discussions with auditors is the records reflect the business.  Sloppiness cannot occur for a streamlined audit.

One of the best tools that I have seen covered at every premium auditor conference resides on your computer.  Excel(r) is one of the easiest and most economical tools to get things started in hybrid premium audit prep.

If you do not happen to have Microsoft Office(r) then you can always use OpenOffice(r).  Go here and download the software.  Please donate to the OpenOffice project so that it will be around for the future.  The software is free.  If you download the package, it has a spreadsheet equivalent to Excel.

Using a spreadsheet program will help you acquire what the premium auditor needs to perform the audit.  You may be asked to provide a few summary reports.

Zoom Hybrid Premium Audit Prep – Connections Cause More Problems

art of hybrid premium audit prep globe internet of things
Wikimedia Commons – Wilgengebroed on Flickr

Think of a remote video premium audit as attending a webinar.  Another major way to look unorganized comes from a bad data connection.  If the auditor cannot talk to a company representative without having a choppy video or no sound.

Think of the connection as a step in the hybrid premium audit prep.  A video connection does not vary that much in the same preparations as a webinar.  Check out these two articles on webinar attendance preparations to help you have a great video meeting with the auditor – webinar attendance and an additional follow-up article

I wrote those two articles at the first of the pandemic.  You do not want to be that company.  Have we not all attended at least one webinar (actually many for me) where the technical end was not attended to before the start of the webinar?

You now have a great start on hybrid premium audit prep.  Good luck.

Also Read: Premium Audit Process Will Never Be The Same – Pandemic Effect

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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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