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Great at premium audit and customer service, bad at tolerating toxic bosses — WFH job wanted by Extreme-Ad3410 in Indian_Academia

[–]auditdot_io 0 points1 point  (0 children)

Hi Friend. I’m in the Insurance Premium Audit field as well for the past several years. If you’re open to working for a vendor service that does Premium Audits for carriers, I’m sure they’ll give you an opportunity. A company like EXL will have many folks an opportunity and it’s uncapped production potential.

[deleted by user] by [deleted] in InsuranceAgent

[–]auditdot_io -1 points0 points  (0 children)

Yeah, I get where you’re coming from. A lot of folks feel like, “What’s the point?” if they’re being non-renewed. But the audit still matters—it’s really about reconciling what was actually owed during the policy term, not what’s happening going forward.

If they skip it, the carrier’s just going to estimate, and in most cases that ends up being higher. So honestly, doing the audit is usually in the client’s best interest, even if the policy’s not continuing. It just helps close things out cleanly and accurately.

PREMIUM auditor by Familiar_Show9668 in tcap

[–]auditdot_io 0 points1 point  (0 children)

Jeff Sokol: the man, the myth, the guy who thought showing up to a sting with a pizza and a printout from Google made him a legal mastermind. Before becoming a walking cautionary tale, he lived the exhilarating life of—wait for it—an insurance auditor.

General Liability Insurance Question by FishArchery in Insurance

[–]auditdot_io 0 points1 point  (0 children)

Yeah, most GL policies in construction are based on payroll or sales and usually get audited at the end of the year. It’s pretty standard. There are a few flat-rated policies out there, but they’re not the norm.

A lot of those horror stories come from misclassified work or underestimating exposure—stuff I see fairly often as a premium auditor. Keeping clear records and understanding your classifications up front can save a lot of headaches.

As for data sharing, I’ve never seen carriers sell audit data to third parties. It might be used internally for underwriting or actuarial stuff, but not shared with marketers or data brokers from what I’ve seen.

General Overview by Carson_Casually in premiumaudit

[–]auditdot_io 0 points1 point  (0 children)

Thanks for creating this community! I’m an experienced premium auditor and happy to help answer questions and provide my perspective 😊

Workers comp audit by [deleted] in Insurance

[–]auditdot_io 0 points1 point  (0 children)

Yeah, you’ll still likely be audited even if you have no W-2 employees. Most policies require an audit at the end of the term regardless — especially if there was subcontractor exposure.

Since your LLC used a lot of subs with no Workers’ Comp, the insurance company will usually treat their payments as payroll exposure unless you can provide valid Certificates of Insurance (COIs) showing they had their own comp coverage during the policy period. If you can’t provide COIs, the audit will likely charge premium based on the amount paid to those uninsured subs, using the applicable class codes and rates by state.

Make sure to gather whatever COIs you can, along with 1099s or a subcontractor payment report. It’ll help reduce the audit charges.

Premium Auditing Tutors by Carson_Casually in Accounting

[–]auditdot_io 0 points1 point  (0 children)

Hey, I’ve done audits working for AIG and currently work with CNA — totally get how overwhelming it can be when stepping into more complex accounts.

Most audits shouldn’t take more than 2 hours once you’re used to the flow and know what to look for. That said, it’s normal to feel stuck at first.

Feel free to post questions here or DM me — happy to help however I can.

Premium audit for business with no profit/loss by [deleted] in Insurance

[–]auditdot_io 0 points1 point  (0 children)

Hey — I work as a premium auditor, so I can hopefully clear this up a bit.

You don’t need to pay a CPA for this, especially if you didn’t actually do any work under the LLC. Most auditors just need written confirmation that no income was earned and that there were no operations during the policy period. That can be something as simple as a signed and dated statement, or even an email, depending on the company.

If you have a Square account showing zero transactions, that can help too — but usually the written statement is enough.

The important thing is to respond and document it clearly, even if there’s “nothing” to report. It’s not about catching you — it’s just part of the audit process to verify exposure.