Guide to Controlling Insurance Premium Audits to Eliminate Overcharges
Insurance companies have developed an efficient and automated premium audit process to handle the high volume of requests they receive. However, this system is not foolproof. Insurance companies do not have the time or resources to investigate and resolve every possible error or ambiguity, and your organization may experience unintentional overcharges.
If your organization has a clear understanding of the rules associated with premium audits, you can take control of the process, anticipating and preparing the exact information your insurance company needs to prevent inadvertent overcharges, and saving your organization money in the process.
M3 has created a helpful guide to assist you through premium audits.
Click below to download this resource, which includes information on accurately classifying employees, working with subcontractors, volunteers, and students, and details relevant inclusions and exclusions.
The premium audit process is an opportunity for your organization to be prepared and provide your insurance company with the exact information it needs to give you the most accurate quote. Please reach out to your M3 account executive if you have questions regarding the information presented in the guide.
