Premium Audit
A Premium Audit is an examination of your business operations, records
and accounts to determine the actual exposures for the insurance
coverage provided. The records you make available for insurance audit
purposes could save you money. Often there are allowable credits
according to insurance manual classifications and rating rules.
A Premium Audit adjustment is necessary after expiration,
cancellation or at intervals specified in your policy. Adjustment
at expiration
or cancellation is necessary to determine the correct classifications
and exposures for the coverages provided. You pay only for the
actual coverage provided – no more, no less.
Audit involves
personal interviews and/or observation of various operations
of your business. Click on Premium Audit for more
information.
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