Self-Audit
There are two types of self-audits: mail/electronic or phone. If the mail/electronic method is used, at the end of your policy period, you will be contacted by standard USPS mail or by email, if we have an email address on file for you. In the letter, you will be provided with Login credentials to our Policyholder Web Interface (PWI) secure site. This site allows you to provide requested information and upload documents as needed. Though we encourage the PWI for the security it provides your data, we also provide paper copies of our self-audit forms which may be returned by mail or fax. Be sure to include a copy of the letter with the bar code so your forms can be matched to the correct policy.
This self-audit will have a few simple questions and request the following information:
- A brief description of your business operations
- List and describe the type of entity, owners, officers, partners, etc. and indicate payroll for each
- Provide payroll detail and job duties for all employees as well payroll for each (see instructions for the number of employees required to combine into a single classification entry)
- Quarterly 941 or SUI Tax Reports – four nearest quarters (upload copies of one of these two forms)
- Identify any contract or casual labor with payments made (upload copies of any certificates of insurance)
- Profit/Loss statements may be requested when policy premium or classification assignment is determined by sales, units, percentage of sales, square footage, hours of operations or any non-payroll related measure.
Phone Audit
A phone audit is a type of self-audit for policies deemed to be more complex or with a higher Estimated Annual Premium (EAP). The same request for information will be sent as for an electronic audit.
- Once your self-audit materials are received by us either electronically, by mail or by fax you will receive a follow up phone call from one of our staff Premium Auditors or a Vendor Partners to review
- The Premium Auditor or Vendor Partner will obtain answers to any further questions and possibly request additional information
- This will give you an opportunity to ask any questions you might have regarding the final audit process
Physical-Field Audit
For a physical audit, you will be contacted directly by one of our Field Premium Auditors or Vendor Partner Auditors by phone or email. The auditor will request to meet at your place of business or location of your financial records at a date and time that is convenient for both parties. In addition to obtaining the same type of information requested on a self-audit, the auditor will also be requesting a review of the following:
- Payroll records, journals, summary reports, sales or P&L records with enough detail to indicate Gross Wages, Overtime, Double-Time and Café 125, sales by type or any other bases of premium. Your records will determine the type of credits the auditor can give to you to avoid overpaying your premiums
- A thorough review, often referred to a site inspection of the company business operations for overall classification assignments
- Verification of legal entity type, ownership names and duties
- An in-depth review of employee duties, location where work is performed to ensure proper classification assignment
- Any other financial records necessary to complete the final audit depending on exposure basis
Physical-Virtual Audit
A virtual audit is a hybrid of the physical audit. The auditor will contact you the same way they might for a physical audit and will request the same records they would for a physical audit. Rather than review all the necessary records on your site, the preferred method of providing records required for the audit is to upload them to our secure Policy Web Interface site (PWI).
- Login credentials will be provided by the auditor
- If this method is unavailable to you, the records may be mailed, faxed, or emailed to the auditor
- All verification of information and questions will be handled by phone or email however, is usually a combination of both
