I don’t really need to call the insurance auditor back, do I?

Category: Small Business,

Commercial General Liability is sometimes, and Workers Compensation premiums are always based on your company’s financial information. Annual audits after each insurance renewal help make sure you’re not paying too much.  Your company will review your payroll, and/or gross receipts, over the past year so that they can determine if you were paying too much, or too little premium based on your actual financials. If you didn’t pay enough they will bill you for the difference, but if you paid too much, they will issue you a refund.