Zoom Hybrid Premium Audits – Not Just Temporary Pandemic Fix
I had thought Zoom hybrid premium audits were going to fade away once the pandemic settles down to allow in-person meetings again. Since the beginning of the pandemic, one new type of premium audit came to the forefront.
Clients contacted us concerning a recently received premium audit bill. That is the normal way we are contacted by businesses. One thing we started noticing was the premium audit method.
The once scoffed at hybrid premium audits became the norm. The hybrid premium audits process consists of the same steps as a normal audit. The main difference results from the premium auditor asking the employer to forward the materials to them for review instead of making an in-person visit.
I have not been a fan of client employers allowing very sensitive financial documents to leave their offices. No insurance policy or regulator makes that a requirement. The recent events have made premium auditor visits almost extinct. I must temporarily change my position on sending financial documents offsite. What else can a premium auditor do in this situation but audit offsite?
Zoom Hybrid Premium Audit Trend
Most companies that perform premium audits for employers do so by the hybrid premium audit process. We have visited the worksites of many clients. However, this comes at a high cost to the employer.
Since October 2020, companies have started contacting us with questions where the audit is performed by video with the premium auditor, of course being offsite. I referenced Zoom in this article. The video platforms in place beside Zoom would be a very long list. Check out the amazing list at the last link.
One Key For Hybrid Audits
The one key originates with any workers comp premium audit – organization of the materials sent to the premium auditor. Sloppy records represent a sloppy company. With the Zoom hybrid premium audits, the insured employer is judged by the records it forwards to the auditor – neatness and organization count (critical).
Over the next few weeks, I will update this article or write a new one on how to prepare for Zoom hybrid premium audits.
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