Is your company's Workers Compensation coverage due to be audited soon?  If so, you may wish to take advantage of Advanced Insurance Management's Audit Certification program.  At low cost, AIM can review the insurance company's audit before you pay the additional premium charges, to make sure there are no technical mistakes that are inflating the premiums.

To have a premium audit reviewed and certified, just make sure to tell the auditor when he or she is out performing the audit that you want a copy of the audit workpapers.  Once these are received, AIM can review the classifications, experience modifier, and payroll determinations to catch any errors, estimates, or questionable decisions by the auditor that are increasing premiums improperly.

If your audit has already been performed, we can still review it before you pay any additional premium.  And even if you have already paid the audit billing, we can still double-check it and see if you are owed a refund due to any errors.

Advanced Insurance Management consultants will prepare a written report that covers the following areas:

• Are the classifications used proper for your line of work?
• Is your company eligible for a less-expensive classification?
• Is the Experience Modification Factor used to compute the premiums correctly calculated and applied?
• Have all appropriate payroll limitations been applied?
• Have all appropriate credits been applied?
• Is the allocation of payroll among different classes correct?
• Has the audit premium been calculated consistent with all pertinent NCCI (or other rating bureau) rules, as well as with pertinent state regulations that may limit additional premium charges.

The cost of our audit certification is based on the size and complexity of your audit.  For most employers, the cost of audit certification by AIM is between $500 and $1,000.  We'll review your situation and give you a firm fixed price for your company's audit certification in advance, so you can know exactly what the cost will be for your company to have an audit certification performed.  And the written report will be provided to you quickly, so you can have the results before you pay any additional premium charges generated by the audit.  So if the audit contains errors, you can get them corrected before you've paid unnecessary premium charges to your insurance company.

 It's always easier to correct audit errors before you've paid the money, rather than after.

The cost of most premium audit errors is typically in the tens of thousands of dollars--sometimes much more.  Can your company afford to not have the insurance company's audit calculation checked by an independent professional?

The AIM Audit Certification is available for all employers throughout the country, of all types and sizes.

Phone: 800-288-9256           email:  AIM@cutcomp.com