We’ve conducted approximately 20,000 compliance audits on workers’ compensation policies. Our results show that many carrier errors and overcharges go undetected until a compliance audit is performed.

Why? There are many federal and state rules and laws that govern workers’ compensation insurance. And, many times these rules vary from state to state. This variability leaves a lot of room for error. It is the insurance company’s responsibility to conduct business within the laws of each state in which they do business. They are licensed for just that reason. After all, commercial insurance laws are designed to protect business from unethical behavior by those selling or placing insurance. Wouldn’t it be a prudent business practice to assure these laws are complied with?

If you still doubt that insurance carriers don’t catch their own mistakes, or look for ways to find their mistakes, ask yourself: What motivation does an insurance company have to conduct compliance audits for each of their customers?

If you pay in excess of $100,000 in annual workers’ compensation premium for a guaranteed cost or loss sensitive program, there is a very high probability that you’ve overpaid your premiums. If you have, you may qualify for our contingent fee program. We also offer hourly and flat fee programs.

If you pay more than $100,000 in premium for a guaranteed cost plan or loss sensitive plan, our experience says there is a high probability that you’ve overpaid your workers’ compensation premiums during the last several years regardless of your commendable efforts.

Workers’ compensation insurance is highly regulated. There are federal and state laws and rules. And, there are standard rules that individual states may take exception to. Therefore, significant variability exists between various states law and rules. This variability leaves much room for insurance company error – but – who ever checks?

The promises your insurance carrier makes to you are contained in your policy (which is a contract between you and the insurance company). In their contract with you, the insurance company promises to abide by the laws and rules of the states you do business in. The insurance company makes these promises in exchange for the premiums you pay. Therefore, you have a right to expect that the insurance company’s promises are honored just as the insurance company has every right to expect payment of the premium. You should expect that your premium is calculated as the insurance company promised – in accordance with the applicable rules that govern the state(s) you do business in.

We are a highly qualified and experienced compliance auditing firm specializing in workers’ compensation. We can get your money back for you while optimizing your experience modification factor. If you pay in excess of $100,000 in annual premium for a guaranteed cost or loss sensitive plan, you may qualify for our contingent fee program. We also offer hourly and flat fee programs.

After a policy term is completed, a payroll audit typically takes place. The audit is usually performed about three months after the policy expires. The purpose of the audit is to assure actual payrolls are correctly assigned to the proper classifications. After the audit, a “true-up” takes place because both you and the insurance company now know exactly how much payroll was paid for each classification during the policy year.

• If the estimated payrolls were less than what actually occurred, you will get a bill from the insurance company.
• If the estimated payrolls were more than what actually occurred, the carrier would get to use your money throughout the year and you would get a refund after the payroll audit was finalized.

Is this the refund you are getting? If it is, you should expect it but our audit many times produces additional refunds.

We audit the promises the insurance company makes in the policy against their actual practices. That is, the insurance company promises to conduct business in accordance with the rules and laws that govern workers’ compensation in your state. Insurance company noncompliance can cost you money. The concept is simple but the audit process is complex.

If you pay in excess of $100,000 in annual workers’ compensation premiums for a guaranteed cost or loss sensitive plan, there is a very high probability that you’ve overpaid your workers’ compensation insurance. If so, we can get your money back for you. If you meet the profile mentioned above, you may qualify for our contingent fee plan. We also offer hourly and flat fee programs.

We conduct a very thorough experience modification factor audit but that’s not all. The mod audit is but a portion of our compliance audit. When you hire us to perform a mod audit we perform our entire compliance audit. If you pay more than $100,000 in annual premium for a guaranteed cost or loss sensitive program, we will perform our audit on a contingent fee basis. We also offer hourly and flat fee programs.

Don’t risk your competitive advantage. Call us now.

The experience modification factor that will be used to determine 2009 workers’ compensation premium will typically include exposure from your 2005, 2006, and 2007 policy years. In addition, your 2009 policy exposure will typically impact your “yet unpublished” 2011, 2012, and 2013 experience modification factors and associated premiums.

The good news is: We can reduce your future costs by optimizing your current and past modification factors, and you get the benefit at no additional cost. That is, our contingent fee is based on policies that have published experience modification factors. Therefore, there is no additional charge for any benefit our audit provides to future – yet unpublished – experience modification factors.

Assuming we performed our compliance audit on your 2005, 2006, 2007, and 2008 policies, you could potentially enjoy benefit on the “yet unpublished” 2009, 2010, 2011, and 2012 experience modification factors and their associated premiums. Assuming we were contracted with you at the time the future mods are published, we would try to drive them down further. (Our work on experience modification factors once they are published are subject to fee.)

I know this can be very confusing but we are happy to explain it further. Just contact us and we will explain.

We offer our contingent fee program to companies that pay in excess of $100,000 in annual workers’ compensation premium for a guaranteed cost or loss sensitive program. We also offer hourly and flat fee programs.

We work with agents, brokers, and risk managers who we firmly believe work hard to achieve their client’s best interest. That’s why they introduce us to their clients. They realize they can’t perform the complex compliance audit we perform because that is not their area of expertise. Agents and brokers may check basic issues but they are not qualified and trained compliance auditors. If they say they do what we do, either they don’t understand what we do or they have motivation to discourage an in-depth audit.

It’s been said that if you want to understand why a move is made in business – follow the money. Agents are typically paid a percentage of premiums. Therefore, as premium is decreased, commissions can decrease. In order for an agent or broker to recommend our services, they would have to want you to get your overpaid premiums back more than they want commissions on that overpaid premium.

Please don’t misunderstand. We do work with agents and brokers that do want what is best for their clients. For example: One agent we’ve worked with lost hundreds of thousands of dollars in premiums due to our audit. When asked how he felt about lost commissions, he said that he only deserved commissions on correct premiums – not overcharges.

There are some agents who have asked us for “kick-backs.” We don’t offer finders’ fees to agents or brokers. How could we perform an independent audit if that were the case?

If your agent or broker is truly looking out for your best interests, they will welcome our audit and we would love to work with them.

• Our average identified findings for our clients paying between $100,000 and $200,000 in annual premium is $24,955 – when we identify findings. We’ve identified findings for 64.67% of our clients in this category.
• Our average identified findings for our clients paying between $200,000 and $300,000 in annual premium is $56,946 – when we identify findings. We’ve identified findings for 67.01% of our clients in this category.
• Our average identified findings for our clients paying more than $300,000 in annual premium is $87,284 – when we identify findings. We’ve identified findings for 78.84% of our clients in this category.

We’ve been in business since 1996, have signed more than 2,000 clients and performed an estimated 20,000 policy audits. We know our business. We will audit behind any company, consultant, agent, or broker at any time. Anyone who tells you not to have the audit performed may be concerned that we will find overpayments – especially if it will reduce commissions.

We work with agencies, brokers and risk managers throughout the nation that are truly concerned with their customers’ best interest.

You may qualify for our contingent fee program. We also offer hourly and flat fee programs.