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Workers Comp Premium Auditor’s Job Now More Difficult

Workers Comp Premium Auditor’s Job Now Much More Complex One of the results of the COVID-19 pandemic is the effect on the workers comp premium auditor’s job.  The complexities of auditing workers comp policies become more pronounced with multi-state employers. I first realized the results with an article published by

Workers Comp Premium Auditor Does Not Know My Final Bill Amount?

Workers Comp Premium Auditor Billing Question From LinkedIn Recently, one of our devout employer article readers posed a workers comp premium auditor question to me through LinkedIn.  By the way, my LinkedIn profile is located here.   You can follow me on LinkedIn for posts and newsletter updates. The LinkedIn reader

Workers Comp Premium Auditors – External Employer Info Examined Often

Workers Comp Premium Auditors and Underwriters Data Sources  Most Workers Comp Premium Auditors and Underwriter have become very sophisticated in examining external data for employers.  After listening to various webinars, attending conferences, and interviewing different insurance personnel, I made a list of data sources that are now used by insurance

Workers Comp Premium Auditors Are Licensed In How Many States?

Should Workers Comp Premium Auditors Be Licensed? Are Workers Comp premium auditors actually licensed in any state?   This question was  posed to me on a contact form on this page. Agents, adjusters, and other insurance personnel have a license requirement in most states.  Why do all states not require workers

Save On Workers Comp Premiums – Keep Your Website Current

Save On Workers Comp Premiums With An Updated Website Keeping your company’s website up to date is one of the best ways to save on Workers Comp premiums increase your business no matter the size.  One of the first background materials we request from clients is their website address(es).  

Workers Comp Premium Auditor Fraud Is Hard To Detect

Workers Comp Premium Auditor Fraud Workers Comp premium auditor fraud is very hard to detect.  The auditors possess such a high level of fiduciary responsibility as they review millions of dollars in premium every week.  This fiduciary responsibility came to light with the recent West Virginia case. A Brickstreet premium auditor had been

West Virginia Premium Auditor Charged With Fraud

West Virginia Premium Auditor Colludes With Employer A West Virginia premium auditor who had worked for Brickstreet was charged with fraud.  Brickstreet had taken over the monopolistic West Virginia Fund in 2006.  The auditor had worked for them since day one.   Please note this is no reflection on Brickstreet as

Premium Auditor Asked Employer To Sign Audit Agreement

Audit Agreement – Premium Auditor Asked Employer To Sign Off ??? The Audit agreement form has been a rather controversial topic.  This question was emailed in earlier this week.  We had our yearly Workers Comp premium audit last week.  The insurance company’s auditor actually worked for a premium audit company

Seven Premium Audit Resolutions For Smooth Premium Audit

Seven Premium Audit Resolutions The seven premium audit resolutions to reduce stress are below. As the premium audit season rolls around every year, I usually post quite a few articles on the subject.   The reason that this time of the year is called premium audit season is that most

Make Sure Your Policy Payroll Matches Your Budget Forecast

Does Your Policy Payroll Match Your Budget Forecast? Your policy payroll should match up with your budget forecast.   Payroll and certain benefits – known as remuneration among the Workers Comp premium auditors – should match your budget for your next policy year.  Just copying the payroll figures from your

Payroll Audit and a Premium Audit – What Is The Difference?

Payroll Audit and A Premium Audit – Differences (Not) Is a Payroll Audit and  a Premium Audit different?  I usually receive this question approximately once per month by email. I thought I would address the differences between a payroll and premium audit. Actually, there are no differences between the two

Premium Audit Question On Offsite Data By Premium Auditor

A Premium Audit Question On Employer Data Privacy A great premium audit question came in from one of our blog readers last week.   One of our readers who handles the accounting for a large multi-state construction company asks “Can the insurance premium auditor take private company data off-site to

Workers Compensation Premium Auditors – Not Licensed Like Claim Adjusters?

Workers Compensation Premium Auditors Licensed Like Claim Adjusters? The Workers Compensation premium auditors should likely have licenses like claim adjusters. Workers Compensation premium auditors have never been licensed or actually regulated in most states. I have spoken often to the other premium audit companies for employers about starting an organization

Premium Auditor Description – Who Is He/She Job Description

Premium Auditor Definition Workers Comp Premium Auditor – an individual who performs the audit of remuneration at the end of a policy period. The premium auditor may be an employee of the insurance company or a contractor hired by the insurance company. He or she contacts the insured, on behalf

Workers Compensation Program – Main Mistake Causes It Harm

What One Mistake Would Harm Our Workers Compensation Program? What would cause the most harm to our Workers Compensation program?  I received this question last week. This is one of the unasked questions that are always a concern of most employers. When we examine Workers Compensation insurance policies for employers,

Workers Comp Insurance Premium Auditor – Who Exactly Are They?

The Main Role Of  The Workers Comp Insurance Premium Auditor The Workers Comp insurance premium auditor works for or is hired by the insurance carrier to perform premium or payroll audits. The most calls and emails that we receive are just after a company has received their yearly Workers Comp

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