Premium Audit Checklist

Policy year: ______________   Carrier: ______________________   Audit date: ______________

Check	Yes	No	N/A
The dates on the audit match the dates on the policy
Every employee is in the right class code
The policy has class codes that don't appear on the audit
Overtime premium pay was excluded, where your state allows it
Officer payroll is inside your state's minimum and maximum, or excluded where allowed
Other excluded pay was taken out (severance, certain fringe benefits, meal money and so on, per your state's manual)
Certificates of insurance were counted for every insured sub
Any charge for uninsured subs used the allowances your state and carrier permit
The right experience mod was applied, along with every credit and discount you qualify for
All the math is correct
The deposit premium you paid matches what the audit credits
If the policy was canceled midyear, the audit reflects it correctly
If your anniversary rating date differs from the policy date, the mod was applied on the right date
Commissions paid to employees are classified correctly
Casual or temporary labor was handled correctly
You've looked at whether a small change in how or where someone works would put them in a lower-rated class

Depending on the policy year and the carrier, it may not be too late to get money back on an audit that was wrong. If you find something, send the audit and the auditor's worksheets to david@davidleng.com. I'll tell you whether it is worth chasing.

The AuditCheck Program has the worksheets to build your next audit before the auditor does.

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