I was talking to a business owner two days ago and his exact words were, “Ryan, it always feels like we’re getting slammed at audit.”
My friends, this should never happen.
At Rogue Risk, we help companies bring down their Total Cost of Risk.
We do this by focusing on their worker’s compensation program through 365-day process and accountability:
- Reducing the Experience Mod
- Managing Employee Injuries
- Acing the Premium Audit
These are just a few of benefits to partners with Rogue Risk. It all begins with a free Experience Mod Audit and Review.
The Question You Should Never Have to Ask
Are we going to have to owe?
This is a question you should never have to ask.
Your worker’s comp premium audit should not be a surprise.
You should never be slammed that audit by a bill that you didn’t see coming.
How to NOT be Surprised By Your Worker’s Comp Premium Audit
The good news is, there are things you can do to guarantee you never get a surprise premium audit bill.
Regular Check-Ins From Insurance Agent
Your insurance agent should be regularly checking in with you to see if there have been any material changes in your payroll.
A lot of things can change in your business throughout the year. Regular quarterly check-ins can help capture material changes that may increase your payroll or change employee classification codes. These material changes can significantly impact your premium audit bill.
When you have material changes in payroll or shifts in job classification there are two ways to handle potential increases in premium
- Budget for the increase in premium and the pay the difference at audit.
- Notify the company and pay a prorated increased rate in premium moving forward.
Pay-As-You-Go Workers Comp
Another option, (we actually prefer and encourage our clients to use), is pay-as-you-go workers’ comp.
Most workers’ comp carriers now offer a pay-as-you-go option and there are also third-party providers that can create pay-as-you-go plans for the few carriers that do not offer it.
Validate Job Classification Codes at Audit
When you get an audit, you need to verify that the auditor has not reclassified any of your employees or moved payroll from one class code to another for some reason.
You do NOT want to blindly pay worker’s comp premium audit bill.
More than 60 percent of the premium audit we review has mistakes and you don’t want to be overcharged simply because you didn’t take the time to review for your premium audit.
Workers compensation doesn’t have to be confusing, complicated or costly. There is another way. At Rogue Risk, we help businesses overcome these obstacles.
If your current insurance professional has never addressed issues such as total cost of risk or return to work programs with you before, then I’d encourage you to reach out to us today.
- You can call or text us at 518.960.6600
- Click here to contact us via email.
I look forward to introducing you to a new way of viewing your insurance program.