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Top 10 List of Work Comp Audit Errors
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Why Use Our Service?
Here's a $111,500 Reason!
- A Recent Case Study:
- This is a recent case study we were involved in where a simple undiscovered error on this clients workers compensation policy produced a very large additional expense.
- Here's the facts in this case:
- A masonry contractor
- In business for 10 years
- Same insurance agent for 8 years
- Changed to new agent 2 years ago
- Both agents are known for their knowlege and good community reputation
- Company annual payroll $750,000 with an average hourly pay rate of $26
- Workers Compensation Premium $60,000
- Upon review of their workers compensation policy it was discovered that NO CCPAP (contractors credit premium adjustment program) credit was EVER applied. This clients original agent of 8 years or the new agent of 2 years did not catch this large mistake! After we applied the proper credit it was determined this undiscovered mistake amounted to an annual error of about 25% or $15,000!
- NOT JUST THE CURRENT YEAR.....BUT FOR AS LONG AS THEY HAVE BEEN IN BUSINESS! We conservatively estimated this company lost over $111,500 in the past 10 years!
Contact Us:
WORKERS COMPENSATION CONSULTANT
Voice: (931) 292-2633
Fax: (573) 447-4998
email: rks@workcompconsultant.com
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