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Learn About Business Insurance Audits | Video 1

By August 1, 2021August 6th, 2021Business Insurance, Insurance

Welcome To Our Video Series On Business Insurance Audits

Hi! I’m Kiya. I’m the commercial lines manager here at strickler Insurance and I’m here to talk to you about audits.

Are you about to undergo a worker’s compensation audit? Preparing for an audit can seem daunting, especially if this is your first time going through the experience or if you just changed insurance carriers. An audit is not designed to find errors or to catch mistakes, but rather to settle up. Whether you had 3 employees or 300, you were covered. The purpose of the audit is to determine what you actually had for that policy period. If we overestimated, Good news—you’re getting money back. And if you had a great year—and your actual numbers exceed what we expected, you’re going to owe more.

In this video series, we will review some useful tips and information that will help to make the audit process easier. We will cover scheduling the audit, records you will need, what is included in payroll, what is excluded in payroll, and classifications. So, stay tuned!

See our second video on business audits.