Workers' compensation coverage is initially priced on an estimated basis. The insured estimates payrolls (and sometime class codes) at the beginning of the policy period for the upcoming year on which the insurance carrier charges a premium using the prescribed rates. After the close of the policy year, the insurance carrier desires to firm up the numbers to confirm collection of the actual premium earned for the actual exposure insured. This "firming-up" is known as the premium audit.

When preparing for or reviewing an audit, there are five KEY workers' compensation audit facts or issues every insurance professional must know:

• How the Governing Class Code is developed;
• The four exceptions to the Governing Class Code;
• The "ABC's" of the premium audit;
• What information is needed at the audit; and
• What remuneration (pay) is included and excluded.

These are the five topics of this webinar. With this information you can better prepare your clients for the audit, making you more beneficial to your client than your competition.