HERE’S WHY: At the beginning of your policy year, the insurance company estimated your premiums. These premiums were based on your payroll for the coming year, but you did not actually know what the payroll for the coming year was going to be. A year is a long time. The insurance company estimated what your payroll was probably going to be, and now, a couple of months after that year is over, they came down and audited your final payroll records for that year, and they saw that either:
- They underestimated your payroll, and it turns out you owe them more money, or
- They overestimated your payroll, and now they owe you money.
If the insurance company is sending you money without you even asking for it, chances are that they found that they overestimated. When we conduct an audit, it is on top of their audit, and 90% of the time we will get you additional refunds.
We audit the promises that the insurance company made to you against what they actually provided. We make sure that they did not miss State or Federal laws that would have otherwise reduced your payments, and we make sure that your mod is not higher than it needs to be. These are not things that the insurance company looked for in their audit. The only audit they provide is the one that gives them the possibility of discovering that you actually owe them more money for a year that already happened.