Insurance & Workers’ Comp Premium Audit

A workers’ comp premium audit reviews the payroll, employee classification codes, and other exposures that drive workers’ compensation and general liability premiums. Carriers run their own premium audits at the end of a policy period to true up what you owe. Premium audit support from Modus verifies those same drivers from your side so you are not overcharged for misclassified workers or overstated exposures. Because this is verification and advisory work rather than an attest engagement, Modus provides support for the insured and does not issue an opinion on your financial statements.

• Employers facing a carrier’s year-end workers’ comp premium audit.
• Businesses that suspect employees are assigned to the wrong class codes.
• Companies with large or variable payroll where small rate errors add up.
• Contractors and staffing firms with complex, multi-code workforces.
• Insureds who want an independent check before accepting an audit result.

• Verification of the payroll used as the premium basis.
• Review of employee classification codes for accuracy.
• Analysis of exposures and how they map to premium calculations.
• Identification of overcharges, misclassifications, and errors.
• Support in disputing or reviewing a carrier’s audit findings.

Payroll and classification data are detailed and repetitive, which is where Modus makes the biggest difference. Modus ingests your payroll records, ties each classification to source documents, and flags codes and exposures that look off. That means up to about 40% less time gathering records and clear findings you can take back to your carrier or broker with confidence. Modus supports and represents your interests as the insured; this is advisory review, not an attest audit.

• Independent review that works for the insured, not the carrier.
• Source-linked support that backs any dispute with your insurer.
• Up to about 40% less time spent gathering and reviewing records.
• Top-firm rigor at a middle-market price.