WCIRB Premium Audit Webinar Worth A Look

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Very Informative WCIRB Premium Audit Webinar

Last week, I watched a live WCIRB Premium Audit webinar that was worth the time.  Although the WCIRB covers California insureds only, some of its information can be applied nationally.  One caveat exists – sometimes the WCIRB and NCCI vary on their rules.

The premium audit process remains largely unchanged, even outside of California.  If you want to view the webinar or download the slides, you can find them here.  I have provided a few of the slides below.

Due to copyright concerns, I do not like to upload a complete set of slides.  Please visit the website to download a complete copy of the slides.  The WCIRB did a nice job of keeping it simple.

WCIRB Premium Audit Process

WCIRB Premium Audit Process Oveview
(c) WCIRB – Oakland, CA

Almost all premium audits nationwide proceed similarly to the above slide. Many alternatives exist to the usual premium audit process. Sone types of  workers comp insurance arrangements do not require premium audits such as PEOs.

Standard Exception Codes

From the WCIRB webinar – It is not permissible to divide a single employee’s payroll, within a single policy period, between a Standard Exception classification and any other classification with the exception of a single permanent job reassignment.

The WCIRB premium audit webinar covered standard exception codes very well.   The most popular standard exception codes are 8810, and 8871.   The WCIRB introduced 8871 in 2020 – usually known as the Telecommuter Class Code with a webinar.

Standard Exception Code Slide WCIRB Premium Audit
(c) WCIRB – Oakland, CA

The WCIRB did a great job with this presentation.  The presenters provided more examples in the slides and their presentation.  I recommend at least downloading the slides and reviewing them as a reference if you deal with premium audits. It will be time well spent.

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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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