Worker's Comp: Premium Audit

Workers' Compensation insurance premiums are based in part upon a business's payroll, which is estimated at the beginning of a policy term. So, policyholders must undergo an audit at the end of the term to report any changes. In some cases, premium may be returned; in other cases, an additional amount may be owed to the insurance company.

Information You Will Need:

  • Payroll records listing individual wages and job duties

  • Quarterly Federal Tax Returns (IRS Form 941) for the most recently completed four quarters or quarterly State Unemployment Forms

  • Miscellaneous income forms (IRS Form 1099) Any subcontractor Certificates of Insurance (ACORD Form 25)

  • Photos and/or videos to support description of operations

A Plus Coverage