Preparing for a Premium Audit

Policyholders receive advance notice either in writing or by telephone of a scheduled audit within two weeks of a selected audit date. Please inform us if an alternate date is preferable, and of the location and availability of records necessary for performing the audit.

The auditor needs to review the required records for an audit. Someone familiar with your books and business activities should be present to work with our auditor. There are a number of record keeping tips that can help save you money.

Why an Audit?

• To determine the total amount of payroll subject to a premium charge;
• To determine if the correct classification code is being applied to calculate your premium;
• To verify the division of payroll for each classification code;
• To assist you in setting up accurate records and proper classification codes so you will pay the lowest possible premium.