How do you handle Subcontracts?
When we schedule an appointment with the insured, we mail or fax a letter clearly stating that we will need a list of their contract labor and subcontractors and amounts paid. The list will need to have the contract labors’ name and the total amounts paid to each during the policy period. We also ask to view the general ledger to verify the contract labor. We review the Certificates of Insures of the contract labor. Some of our customers request a sampling of the Certificates of Insurance, and other customers request full review. We document the contract labor certificates of insurance as the customer instructs. If needed, we will include each contract labor and document the uninsured and insured risk. PremiumAudit.com will customize our audits to fit the carriers’ need and requirements. Most insured state,”the last audit company never asked for those records”. Obviously, premium was missed by the other audit company and money was left on the table.

How do you reduce ReAudits?
Each auditor will conduct an exit interview. The insured will have an opportunity to agree with the audit or disagree prior to the completion of the audit. Because PremiumAudit.com is diligent with the exit interview, we are able to reduce the amount of reaudits; thus reducing the cost to the carrier.

Why is PremiumAudit.com different?
If you are looking for a company to run in to the insured’s business and run out with the records…..we are not the company for you! Our auditors actually perform physical audits. We sit down with the insured, or their representatives to insure their audit is performed correctly. We verify payroll with Federal 941s and with State Unemployment records. We verify employee job duties, and we classify based on job duties, not on job titles. How much money did your last auditor leave on the table?

What is the downside of having an audit performed by PremiumAudit.com?
Our biggest complaint is that “the other audit company never asked those questions.” We work patiently with insured that have never had a correct premium audit. Our auditors work with the insured and the agents to help the insureds understand why the additional records, additional questions, and additional verification are needed. Basically, there is no downside to the carrier because the carrier has final determination.

Does PremiumAudit.com require a contracted commitment?
We are proud of our business relationships and our high business morals. We do not require a contract to perform audits for your firm. We want you to want to do business with us, not because of a contract, but because we are the best at what we do. We will agree to a contract, but do not require one.