this section you will find out about all of the Premium Audit services that PCS
has to offer. PCS can provide workers compensation, general liability and auto
fleet audits on businesses large and small. Our premium audit staff is trained
to maintain a professional presentation and attitude when deling with policy
holders, whether it be on the phone or in the field. If you do not see a
premium audit service that you or your company might be interested in, please
feel free to contact Sales.
Premium Audit Services Listing
Telephone Audits - All States
Voluntary Audits - All States
Physical Audits - NM,NV and AZ
At the time your policy was issued, your premium was based on estimates you
provided regarding information such as payroll or sales. Your insurance rates
can vary based on this information, the audit determines what the correct
premium should be based on your actual experience.
The Premium Audit ProcessThe type of premium audit used
is based on the size of your policy and/or the nature of your operations and may
be one of the following:
A premium audit may involve inspection of accounting records including
payroll journals, disbursements journals, general ledgers, Social Security
reports, state unemployment forms or other tax reports. It is advantageous to
have a designated individual available to assist the auditor. Ideally, this
would be someone who is familiar with the work done by all departments and
employees and also familiar with the records needed to complete the audit.
Based on the guidelines set by your insurance carriers underwriting and
premium audit departments, some policies may not require an audit. Be assured,
all audits are treated with the highest level of confidentiality.
The Benefits of a Premium Audit A premium audit allows
you to be awarded credits to which you are entitled and enables your insurance
premium to accurately reflect your exposure.
Many insurance premiums are based on payroll, in other words total
remuneration for services performed by employees. Remuneration includes money
and money substitutes, e.g. bonuses, vacation pay, wages, commissions, payment
for piece work, profit sharing plans, value of board and lodging, sick pay,
holiday pay, overtime and other money substitutes.
A premium audit may reduce your insurance costs if your payroll records
Premium Audit QuestionsFor questions concerning your
insurance coverage, a premium audit, or for assistance in setting up your audit
records, please contact your insurance agent.