Tips on How to Make Workers’ Compensation Audit Go Smoothly

Tips on How to Make Workers’ Compensation Audit Go Smoothly

Workers’ Compensation insurance premiums are in part based on estimated employee wages (including bonuses and vacation, holiday and sick pay), employee classification codes, and the cost of uninsured subcontractors. At the end of the policy period, the insurance company will conduct an audit regardless of how the premium is paid, including via self-monthly reporting. The audit is utilized to verify that the payroll estimates and classification codes when the premium was originally quoted reflect the actual payroll and scope of work performed during the policy period. Audits also ensure that subcontractors have their own coverage in place.

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Prescient National
217 South Tryon St.
Charlotte, NC 28202
[phone]