FAQ ’ S
WHAT POLICYHOLDERS ARE ASKING IN PREMIUM RECEIVABLES AND PREMIUM AUDIT
BY : ROBIN D ’ ERI & STEVEN PRIVITERA
WE RECENTLY asked our own workers ’ compensation specialists in five disciplines what questions policyholders most commonly ask . In the first of a series , here are FAQs from two areas : Premium Receivables and Premium Audit . Billing / Premium Receivables How Can I Pay My Premium ? We accept check payments by mail or online . Payments cannot be made over the phone at this time . If paying by mail , include the bottom stub of the quote page or billing statement and send it on or before the due date .
Why Am I Receiving A Bill When I Paid For My Policy Up Front Or The Term Of The Policy Has Ended ?
Workers ’ compensation is based on estimated payrolls . Within 90 days of the expiration of the policy , a member of our Audit department will contact you to schedule an audit . The audit provides the actual payrolls in order to report the correct premium calculation associated with your policy .
Why Am I Receiving A Bill For An Audit I Never Completed ?
We are required to produce an audit within ninety days of the policy expiration date . If the information is not received in time or an actual audit is not conducted , you will be billed based on an estimation of premium . Why Am I Receiving Two Similar Bills So Close Together ? Workers ’ compensation insurance is based on estimated payroll . When an audit has been completed or an estimated audit bill is issued , the current policy is endorsed to meet the previous year ’ s final premium . Oftentimes , one bill reflects the audited premium while the second bill is for the endorsement on the policy . The endorsement reflects the up-to-date payroll numbers , ensuring the most accurate premium .
Can I Opt Out Of Charges For The DIA In Massachusetts
And Terrorism ? No . These charges are state or federally mandated . Why Have I Received A Letter Of Non-Renewal When I
Have Already Sent Payment ?
To provide sufficient notice , we issue these letters 20 days prior to the policy expiration date . You can disregard the letter if payment has been made .
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