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What is Earned But Not Reported (EBNR) – Employers Need to Know

Earned But Not Reported Now A Factor With Premium Audits – Employers Be Wary NCCI’s Barry Lipton, Senior Actuary published a post this morning that I read over three times to absorb the theory of the Earned But Not Reported (EBNR) hangover effect.   You can check out the post here

Workers Comp Premium Refunds Due To COVID Crisis

Carriers Providing Workers Comp Premium Refunds Due To Coronavirus Shutdowns? One of the most common questions we received since March from employers – Are carriers providing Workers Comp premium refunds due to the COVID crisis?  Is there a formula to know how much we are receiving?  Are states mandating carriers

Work Comp Premium Audits Do Not Have 75% Inaccuracy Rate

Are Work Comp Premium Audits Only Correct 25% Of The Time? We review Work Comp premium audits for employers as one of our core services.   J&L Risk Management Consultants has been reviewing work comp premium audits for over 20 years. We have analyzed enough data in our premium reviews to

Liability Insurance Premium Audit and Policy Reviews – New Service

Liability Insurance Premium Audit  and Policy Reviews We have been performing Workers Comp policy and Liability Insurance premium audit reviews for many years.  The need for liability audit and policy reviews became very apparent when I attended the NSIPA Conference a few years ago. There a very few, if any companies

Loss Cost Multipliers Affect Premium Audits Indirectly

The Loss Cost Multipliers Have An Indirect Effect I recently posted on Loss Cost Multipliers that affect your premium audit.  I have received so many inquiries to my last post on the subject that I thought I would cover the subject again.  This is an emailed question I received last

Preparing For Workers Comp Audits – Seven Suggestions

Seven Suggestions – Preparing For Workers Comp Audit I wrote seven suggestions on preparing for Workers Comp Audits. I have read many guides, manuals, and blogs on how to prepare for a Workers Compensation premium audit. Some of the suggestions were borderline, if not completely illegal. As this story on

Workers Compensation Audits Five Types To Cut Comp Costs

Workers Compensation Audits – Five Types For Cost Savings We often receive questions centering on Workers Compensation audits.  Audits – we like to call them reviews are an essential method to cut comp costs. This term may cover many types of audits or reviews. I thought I would cover the

Premium Auditor Conference in Nashville TN

 Nashville TN – Premium Auditor Conference I recently attended an annual insurance premium auditor conference in Nashville, TN.  I had contemplated attending the conference for a number of years. The group is called the National Society of Insurance Premium Auditors (NSIPA). The conference was very informative. Their website is here.

Workers Comp Audits – Five Effective Ways To Prepare

Five Ways To Prepare For Workers Comp Audits These five Methods For Workers Comp Audits preparation will remove some of the premium audit stress. If you are a company that is large enough to not self-report your Workers Compensation payroll, you will experience the insurance company audit process. There are

Premium Auditors Comments From Field On Last Article

Workers Comp Audit – Premium Auditors The premium auditors emailed me a few times on their disbelief of my last article.  My last post discussed two employers being audited for a total of 23 years by their Workers Comp carrier.   I am not faulting any certain auditor, but more

Workers Compensation Audits – How Many Is Carrier Allowed Per Year?

Workers Compensation Audits Rules We received this question recently from a manufacturer in California.  The number of Workers Compensation audits that can be performed by a carrier should only occur once per policy year.  The Workers Comp policy that you have received from the carrier should have all the Workers Comp

What Is Difference Between IRS Audit and Workers Comp Audit

IRS Audit and a Workers Comp Audit – Comparison Many similarities exist between an IRS  audit and a WC audit. I was actually asked a very similar question at one of my last presentations. I had originally thought there were no similarities between the two. Once I thought it over,

Payroll Audits Preparation In Workers Compensation – Readers Question

Workers Comp Payroll Audits Preparation Made Easier Payroll audits can be stressful. I just received notice that the insurance company auditor is coming in to audit my company’s Workers Comp information. How do I prepare for the audit? What information do I have to provide them? According to your insurance policy,

Workers Comp Premiums – Most Common Error Found

Workers Comp Premiums Most Common Error The most common error in Workers Comp premiums and policies is one that I had to think over for a few days as there are so many. We are asked this question very often. For quite some time there were so many answers that

Auditing Workers Compensation Policies – Main Errors Discovered

Main Errors – Auditing Workers Compensation Policies Auditing workers compensation policies involves many steps. We have examined a large number of Workers Compensation policies in our existence. We find errors auditing at least 50% of the time. The most common errors that we have seen are (in order from most



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