Reversing Workers Compensation Insurance Mistakes Since 1999
Average Refund: 10-15% of Your Annual Premium
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Definitions
- (Renewal Billing) This is a billing statement indicating the estimated payroll, rates, discounts, etc. The insurance company issues this statement at the beginning of the policy period. This item is also known as the information page, or dec. sheet.
- (Final Audit) This is a billing statement indicating an additional premium or a credit for overpaid premium. This is normally issued within six (6) months after the end of a policy period.
- (Experience Modification Worksheet) This is a summary sheet prepared by either a rating bureau or the National Council on Compensation Insurance (NCCI). This sheet indicates detailed information on prior payroll and losses.
- (Loss Summaries) This is a history of the total amount paid by each individual claim for a specific policy period.
- (Auditor's Worksheet) This is the document that the auditor prepares indicating the payroll for the audit period and how the payroll is classified before billing the final audit.
- (Description of Operations) What type of work is performed?
- (Endorsements) Written documentation showing changes in the policy. Such as adding or removing coverage or additional locations.
