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Take advantage of our Claims Audit Verification program. This program may allow you to receive up to 25% commission! Claim administrators, insured, their accountants, brokers, agent, consultants, risk managers and claims managers, third party administrators and insurance carriers have dealt with the issue of reserving practices and the costs associated with the reserves. The reserve provides a charge that is hopefully representative of a reasonably accurate final cost. Losses paid are a variable factor that bears directly on the claims practice of the adjuster. Benefits of Claim Audit Verification: Demonstrate an improved loss history & facilitates underwriting history. Produce higher dividends & lower retrospective rated premiums. Results in lower earned premium audit bills. Produces underwriting profits. Verify Claim Files Handled, Adjusted and Maintained by: Commercial Insurance Carriers Independent Third Party Administrators Group Trusts State Insurance Funds Safety Groups Captive TPA’s In-House Administration of Self-Insurers Claims Audit Verification Management reduces the cost of: Large Deductible plans (Self-Insured Plans) Retrospective rated Plans Scheduled Dividend Plans Retention Plans Cost-Plus Plans Average claim is open 208 weeks. Verification Reviews for: Insured Brokers Agents Consultants Accountants Attourneys Benchmark Reviews for Carriers/TPA’s Additional Verification Applications : Premium Adjustment Reviews Dividend Statements Litigation Support Due Diligence for Merger/Acquisitions Claims Audit Verification Contact us today for more information.

...u will audit. Remember, auditing is a process, not a project. The num... and renewals, we recommend auditing these transactions in the first c...

... company into different markets, services and activities, and new relationship...n; c) products manufactured or services performed which, subsequent to th...

Don't Forget The Auditing Process
Are your emplo...ust do it ! There are five options: Auditing through weekly meetings; auditing as a group; employees auditing one another; monthly ind...

Work Flow Procedures Manual-Commercial Audit Procedure
COMMERCIAL INSURANCE AUDIT PROCEDURE In most agencies, audits are processed much like all other types of mail. Because of the adverse financial impact that an audit can have upon an agency, it is our opinion that a specialized processing take place. Unlike other company billings that are normally controlled by the CSR/Marketer, it is our feeling that the audits be under the direct supervision of the bookkeeper or financial manager. 1. All audits when, received by the Financial Manager/Bookkeeper are logged in on Form audit.frm 2. Financial Manager/Bookkeeper establishes a follow up date 5 days prior to the date that an audit can be returned to the company for direct collection. 3. Financial Manager/Bookkeeper notes on the agency copy of the audit the follow up date and forwards the audit to the CSR/Marketer for processing. 4. CSR/Marketer reviews the Audit confirming that the correct rates and exposure units have been used. 5. If audit is incorrect, immediately return to the company to be reissued and notify the Financial Manager/Bookkeeper. 6. If audit is correct, CSR/Marketer invoices the audit and mails to customer with Cover Letter. Dear : Enclosed you find the final audit on your _____ policy, number ______, which expired _______ . I believe that the audit is correct after having verified the rates and mathematical extensions. However, if you find any errors in the exposure information, please call me within three working days and return the original audit to me for correction. Audits represent fully earned premium on an expired policy, and are subject to special handling procedures between our office and . We, therefore, require your payment within 15 days. Sincerely, Enclosure 7. CSR/Marketer verifies the follow up date established by the Financial Manager/Bookkeeper. 8. If the customer remits the payment prior to the suspense date, Financial Manager/Bookkeeper notifies the CSR/Marketer and removes the follow up. 9. The CSR/Marketer updates the customer's electronic file and files appropriate paper in the transactional file. 10. If the additional audit premium is not paid on time, the Financial Manager/Bookkeeper notifies the CSR/Marketer and Producer. 11. The CSR/Marketer and Producer then have 24 hours to make a decision (based upon the agency's policy) whether or not to Contact the customer and collect the money immediately Advise the Financial Manager/Bookkeeper to return the audit for direct collection Advise the Financial Manager/Bookkeeper that they will guarantee the audit premium and to allow the cut-off date to pass

... you are in the market for claim-auditing services, require the prospective au..., specializes in the evaluation and auditing of workers' compensation, liabili...

Developing Broker Services Agreements
DEVELOPING BROKER SERVICES AGREEMENTS by Gary Griffin This ...agreement is to identify the needed services and to make a commitment to provi...