Why Conduct a Workers’ Compensation Premium Audit?
You need the perspective of an unbiased, independent review of your workers’ compensation premiums.
Our vast experience in the workers’ compensation premium matters indicates that approximately 70% of all employers have overpaid or are currently overpaying on their Workers’ Compensation premium costs. The system that determines your premiums is extremely complicated involving many entities including rating bureaus, insurance company underwriters, and insurance agents.
For example, when it comes to establishing appropriate classifications with hundreds of unique business classifications, there is a significant opportunity for a lower rated classification as they are typically determined by insurance company underwriters and rating bureaus while agents have limited control of the classifications applied.
The payroll auditor that performs the annual payroll audit is either an employee of the insurance carrier or is contracted by the insurance carrier to conduct the audit. The auditor is not there to determine if you’ve been overcharged.
In addition, many of our workers’ compensation premium recoveries are a result of incorrectly calculated experience ratings or the erroneous application of experience ratings. Often times discounts initially indicated in the policy are not applied on the final audits.
We are familiar with individual states insurance statutes along with rating bureau rules and regulations that affect how your workers’ compensation premiums are computed. Last but not least, there is an inherent conflict between the agent or broker’s role to reduce premium costs and the commissions earned on a workers’ compensation policy.
Our service is based solely on a contingency fee basis and are available to companies in nationwide except for ND, OH, WA, & WY.
Founded in 1990, our workers’ comp recovery program is the leading independent workers’ compensation premium recovery firm in the nation.
We specialize in identifying workers’ compensation insurance premium overcharges, obtaining workers’ compensation premium refunds, and reducing workers’ compensation premium costs.
That’s all we do!
With over 70 years of combined experience in the work comp premium matters, our experience and “inside knowledge” of the system allows us to detect and uncover workers’ compensation premium overcharges; resulting in refunds to our clients.
There’s no cost for our confidential workers’ compensation premium review. We are compensated solely on our performance as a percentage of the savings realized by your company.
Most business owners aren’t aware that they’ve been overcharged until our independent review is conducted. This is due to the constant changes in the workers’ compensation industry including rating bureau rules and regulation changes, policy changes let alone the application of incorrect rates, discounts, classification, experience modification calculation, erroneous payroll audits. Most of the technical errors we locate are beyond a typical agent’s scope.
No recovery.
No fee.
We are not affiliated with any insurance carrier or agency.
We do not sell insurance.
Thousands of $$$ in Potential REFUNDS are Waiting to be Found at
NO COST TO YOU!
All aspects of your premium calculations will be reviewed including but not limited to classifications, experience rating calculations (experience modifications), payroll audits, rates, and applicable discounts.
We will provide a written report documenting the workers’ compensation overcharges, provide the supporting documentation to recover the overcharges and assist in obtaining your workers’ compensation refunds.
Our fees are based solely on our performance as a percentage of the savings.
Our Workers’ Compensation Knowledge and Expertise are Unmatched
We’ve recovered substantial refunds from many different workers’ compensation insurance companies.
We have recovered over $25 million in workers’ compensation premium overcharges and saved clients an additional $5 million in future workers’ compensation premium costs.
Our workers’ compensation review includes an evaluation of over 40 potential areas of overcharges for each policy period including classifications, experience ratings, payroll audits in addition to other technical issues that mistakenly increase your premiums.
Industries we have assisted include auto dealerships, casinos, construction, health care, oil and gas, manufacturing, hospitality, restaurants, municipalities, landscaping, retail, temporary staffing, transportation, and warehousing.
