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HJ Audit
Let’s Succeed Together
About Us
Experienced Premium Auditors
We are experienced premium auditors who review the insured's business operation, including examining, verifying, and recording pertinent classification-related data from financial and business records.
Why Work With Us
Protect your time and focus it on what is most important for your business.
AUDITS START AS LOW AS $250
Focus on Core Business
Empowering business owners to concentrate on their primary operations. Instead of wasting time and resources on your audit, use that time to generate revenue.
Cost Savings
More affordable than employing permanent staff, allowing businesses to transform fixed costs into variable costs.
Increased Efficiency
Boost productivity by connecting with an expert who can manage tasks swiftly and effectively.
Access to Expertise
Gain access to affordable and skilled professionals with specialized expertise and resources that are not available within your organization.
Compliance
Gain access to experts who can guarantee adherence to your insurance policy audit standards.
Partner with a Professional
Insurance companies employ trained professionals to ensure they receive every dollar owed to them. Now you can have a professional on your side to safeguard your interests and protect you from expensive mistakes arising from:
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Incorrect Employee Classification
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Mishandling of Owners and Officers
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Incorrectly including Subcontractors and Vendors
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Not Excluding Premium from Overtime
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Not Excluding Severance
How it Works
01
Getting Started
We will conduct an initial consultation, evaluation, and analysis of your business to identify appropriate coverage and exposure.
02
The Work
We will liaise with the auditor for you, organize all necessary documents for your audit, and discuss the auditor's findings with you.
Premium Audit FAQ
What is an audit?
A report of collected information of an insured’s operation and accounting records used to determine the actual insurance exposures for the coverages provided.
Why and when it is necessary?
The original premium on the policy is an estimated premium. The final audit determines the actual premium. When actual exposures differ from the estimated exposures, an adjustment must be made to the premium of the expired policy.
What insurance coverages require an audit?
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Workers’ Compensation
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General Liability
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Premises/Operations Liability
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Products Completed Operations
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Independent Contractors
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BOP
How Does a Premium Audit Affect My Insurance Costs?
After complying with your audit, you’ll receive a final audit statement. This outlines the results and any changes to the overall premium for your term. If the final amount is different from your original annual premium estimate, you’ll receive a credit or an invoice.
Have someone on your side protecting your interest.
Consequences of Noncompliance
Failing to comply with a workers' compensation policy audit can have serious consequences, including:
Financial Penalties
You may be charged a non-compliance fee, which can be as much as 200% of your original policy premium.
Policy Cancellation
Your insurance company may cancel your policy, even if you've been making payments.
Collections Agency
If you don't pay your audit bill, it may be sent to a collection agency. This can make it difficult to get insurance in the future, as new carriers will be aware of the outstanding premium.
Inability to Get Insurance
You may be disqualified from getting workers' compensation coverage from any insurance company until the audit is complete.
Higher Premiums
If your insurance company cancels or doesn't renew your policy, your new insurer may charge you more.
Legal Action
In some cases, breaking the rules for workers' compensation can lead to criminal charges.