Audit Process
- Agreement executed and returned to you within 48 hours of receipt
- A short interview is conducted:
- Introduction of audit team and central point of contact
- Verification of insurance carriers
- Verification of rating bureau(s)
- Review of past and present agent information
- Verification of insurance plan type
- Review of state(s) exposure
- Review any specific client concerns
- Required data is requested:
- Policy Pages
- Final Audits
- Loss Runs
- Payroll Information
- Audit team works with client, agent, and/or carrier to obtain required data
- Audit is conducted:
- All suspect issues are reviewed and audit trails are followed
- Claims are investigated
- Rules, regulations, exceptions, filed plans, policy language, etc. are researched
- Correction requests are filed
- Correction requests are expedited through appropriate carrier(s)
- Corrections and revised premium audit(s) are obtained
- Refund checks or credits are expedited
Throughout the entire process, we will update you on the status of your audit at least once every 30 days.
Audit duration will depend on the time it takes to obtain the audit data and the complexity of the issues identified. The surest way of reducing the audit time is to provide – or assist in providing – required audit data.