Compliance Audit - Options

 

Standard Audit: (Premiums $100,000+)

  • We audit the insurance carrier’s compliance with state rules regarding premium calculation, such as (but not limited to):

 

  • Correct application of experience modification factor
  • Correct application of miscellaneous debits and credits

 

  • We will evaluate the accuracy of the experience modification factor by analyzing the carrier’s compliance with state rules regarding reporting of unit statistical data such as claims and payroll information.


Payment for Services Options:

  • Strictly Shared Savings Agreement
  • Client provides policy data readily available for the audit
  • Synergetic Solutions makes a reasonable attempt to obtain the remaining data for the audit
  • Hourly fee


Policy data typically requested from Client:

  • Current and past four policies
  • Final Premium Audit Statements (past four)