General Liability & Workers Comp Insurance Audits
Workers’ Compensation Insurance Audits
When a company hires employees, they are required to get a workers comp policy. This policy is solely based on the amount of payroll a company pays. When you take out the policy, you have to provide an estimated amount of payroll for one year. You must also give the insurance agent a description of the work the employees will be doing. They place you in different categories that charge different rates. When you hire Integrity Books, Inc., we track the employee’s time throughout the year and what tasks they are doing. At the end of the policy year, your company will get an audit from us to compare the amount of payroll for each classification versus what you estimated. A lot of businesses will receive a large bill at the end of this time if they have not estimated accurately. Our goal is to keep our eye on your payroll amounts throughout the year and increase the limits if needed so you pay over a longer period of time rather than a huge bill at the end.
General Liability Insurance Audits
The General Liability Insurance Audit works basically the same way. It is a different policy, of course, but the concept is the same as the Worker’s Comp Insurance Audit. The portion that gets audited is the payroll amounts. If you have subcontractors, these get added to this policy audit as well. Most people don’t totally understand how it all works. We’ve been doing this for so long, we have a full understanding! Integrity Books, Inc. can help guide you to some options of how you can save money.
The audits can be completed in our office or remotely by uploading all of the information to the auditor’s secure portal.
Track Information for Insurance Purposes – We will collect the required information your policyholder needs.
Handle Face-To-Face or Virtual Audits – Let us handle the auditors and their questions so you don’t have to.
Forecast Estimates for Policy Periods – Our professional bookkeepers can go over the forecast estimates that are right for your policy period needs.