During a workers compensation premium audit, review the Commentary Section of the worksheets!

Norm Goodman here … The first question in our series, “Key Questions to Ask the Broker” during the premium payroll audit is:

Has the broker checked the auditor’s worksheets in detail? If the auditor makes a significant change, or if the audit contains something unusual, you will likely see that fact highlighted in the commentary sections of the worksheets. During this meeting, ASK TO REVIEW THE COMMENTARY SECTIONS.

For example, if overtime credit is omitted, if the audit takes payroll from a different period of time different than policy coverage dates, if a construction credit is missing, or if a new classification is added, this is where you will read about it. Make sure you and the broker carefully review the worksheet’s commentary section.

Participate in the wrap up meeting; you will learn something new. I guarantee it! The best way to manage your account is to know the detail in the process. Of course you have an auditor to DO the grunt work, but you’ll benefit from knowing some of the detail of what is happening during the audit process.

Thanks for reading my contributions to the blog. Hope it is helpful.

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