Premium Audit

When your policy nears expiration or has been canceled you will receive notification of the audit by mail. We will ask you to provide a payroll report, tax forms and other relevant documents for your policy period. You will be able to submit the requested information online, by email, fax or mail. The information will be used to verify your policy information and premium.

For the audit you will need to submit a few documents. We will need a payroll report for the dates of your policy including employee names, duties, earnings, and overtime wages. Quarterly tax forms including IRS 941 and State quarterly reports as well as any 1099-NECs that were issued for the calendar year closest to your policy dates should be submitted as well as proof of workers compensation coverage for any subcontractor used when available. If you need any help deciding what documents to submit, please give us a call at 844-740-7007 or email [email protected].

No. The insurance policy agreement and state insurance filing require us to conduct annual premium audits of our workers compensation insurance policies. Not providing the requested information or documents may result in an Audit Noncompliance Charge, estimated audit and/or cancellation of any coverage in force at the time of audit. It could also affect your future insurance premiums.

We offer several options to submit your required audit documents.

ONLINE: You may upload your documents by completing the online Premium Audit Form. To get started, please click the blue button labeled “Complete your Premium Audit Form Online” in the top section of this page.

EMAIL:      [email protected]

MAIL:        Service Insurance Companies

P.O. Box 26850

Austin, TX 78755

We are available Mon-Fri 8am to 4:45pm CST at 844-740-7007 or you can email us at [email protected].

If your quarterly tax reports don’t line up with your policy term, provide the four filed quarterly reports closest to your policy dates. We will be able to reconcile to our satisfaction using the last four filed quarterly reports or an annual report.

Self-audits are due 45 days after policy expiration. You will receive an audit request form by mail shortly after expiration or cancelation of your policy. If your audit is being completed by one of our vendors, they will provide you with a date documents are due. They will contact you directly regarding your audit.

If you use contract labor, you will need to provide the expense by subcontractor (vendor) report, type of work contracted out and proof of insurance, if any. You should report anyone you have paid to perform any labor connected to your overall operations in the subcontractor section of the audit form. If a subcontractor provided both labor and materials, please provide separate amounts where possible.

Yes. Initial premiums for auditable policies are based on estimated exposures that are provided at policy inception. An audit is necessary (and contractually required) to determine correct exposure and premium until the cancellation date, ensuring the account can be closed fairly and accurately.  Audit data reporting is also required by all states where the insured operates.

Yes. Wages paid to employees during the policy period are included even if they are not still employed at the policy expiration date.

Officers typically include the president, vice president, secretary, treasurer, and others elected or appointed in accordance with your company’s charter or bylaws. It is important to list these employees by individual with their gross pay, as officer compensation is subject to payroll limitations. Information regarding officers was provided at policy inception and needs to be verified at audit.

Virtual, physical, and self audits