When it comes to business insurance, no one likes surprises.
By keeping accurate and up-to-date records and ensuring you have COI’s for each of your subcontractors, you’ll find insurance audits don’t have to be a headache when you’re prepared and know what to expect. Insurance carriers use audits to ensure that your policy premium is matched your business exposure.
Audits are commonly performed on general liability, liquor liability, and workers’ compensation policies, and the information from the audit will generate either a bill or a refund. It is important to comply with audit requests to prevent the cancellation of coverage. Our guide will help you understand and navigate the audit process.