Premium Audit

Get started with the AmTrust Workers’ Compensation Insurance audit.

Get Tips for Completing Your Online Audit

A premium audit determines the final premium for an insurance policy. The data collected during the audit process is submitted to rating organizations such as NCCI and independent bureaus. This information is used in developing experience modifiers and loss costs.

Initial premiums charged are based on estimated figures at the start of the policy term. To ensure these figures are accurate and classifications remain appropriate, all workers’ compensation policies are subject to an audit to determine the actual premium.

To comply with state bureaus and the National Council on Compensation (NCCI), AmTrust introduced a new audit noncompliance charge for workers’ compensation premiums. If a policyholder does not complete the request for a premium audit, the ANC will be applied to the policyholder’s initial estimated annual premium based on the specific rate for their state. For more information about the ANC, please download our PDF.

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Online Audits

Completing your audit online is a faster, easier alternative to mail audits. Within a few days of the expiration of your policy term you may receive an audit form by email and/or mail. It should be completed entirely and promptly returned. The form will ask for specific information depending on your policy and indicate the type of information you should report.

If you are eligible for this type of audit, you can complete online via our secure online portal. You will need to be registered for AmTrust Online to do your premium audit online. Registration is quick and easy via Amtrustfinancial.com in the login dropdown menu.

Our online portal makes the required Workers’ Compensation premium audits faster to complete. The online portal offers:

Easy login
Intuitive interface
Policy information prefilled
Secure data transmission
Automated calculations, not estimates
Fewer processing errors
Faster refunds

To start the process, log in to AmTrust Online and select “Start an Audit” to begin the process. All you need to start is your policy number and zip code. When you are ready to proceed with your audit, follow the on-screen instructions to fill out each section of the form: General, Payroll, Verification, Subcontractors and Summary.

A step-by-step training video is available for you on the Insured Portal to view before you start your audit.

Virtual Audits

A virtual audit provides the attention to detail and accuracy consistent with that of a physical review, without the requirement of an on-site visit. Virtual audits are conducted electronically via email and/or phone and offer more flexibility with scheduling.

Once the policy expires or is cancelled, an auditor will contact you or your accountant by email and/or phone. They will provide a list of the records necessary to satisfy completing the audit. Upon receiving the records, the auditor will reach out to you to review and answer any lingering questions.

Physical Audits

This type of audit is performed at your place of business or at your accountant's location, usually within 90 days of the expiration date of your policy term. The audit will be done by an AmTrust premium auditor or an auditor authorized by AmTrust. The auditor will notify you of the audit appointment by mail or phone. This notification will list the insurance policies that will be audited and the records needed. It is important to immediately notify the auditor if you have questions about the records needed or if you need to reschedule the appointment date.

California Premium Audit Process: What to expect and how to prepare
Nevada Premium Audit Process: What to expect and how to prepare
Notice of Audit Dispute

Frequently Asked Questions

When is the audit performed?

According to your insurance policy, we have up to three years after the expiration date of your policy term to conduct an audit. The timeline to complete the audit depends on the complexity and volume of records provided. The vast majority of audits are completed within a few months after the expiration date.

What is the audit for?

The audit helps to make sure you paid the right premium for your business based on actual numbers instead of estimates. The insurance premium you pay is determined by your work classification. These classifications aid in determining the level of risk that your employees are exposed to. If your company’s work duties have changed as a result of the payroll audit, you could be eligible for a different premium.

Why do I have to do an audit?

Audits are required by law for certain types of policies in all states. In fact, states can impose hefty penalties if you don’t do your audit – up to three times the amount of your original policy.

What documents are required for the audit?

The required documents vary based on the type of audit although typically include payroll records, quarterly reports, financial statements and any compliance related forms. You will want to check the specific audit guidelines for a detailed list.

Can I as an owner, partner or officer choose to be covered or not covered?

In your Workers Compensation policy - owners, officers, partners and members can elect to be covered or not to be covered depending on the rules that vary by state. This must be done before the policy is issued.

How do I submit my audit records?

The audit records can be submitted online via our secure online portal, by email, or by mail. Refer to the submission instructions provided in your audit notice.

What happens after I submit my paperwork?

We’ll review your submission and reach out with any questions. Once the audit has been completed, you will receive a statement with the final premium results. The statement will let you know if you owe us money or if we owe you money.

What if I don’t pay my bill as a result of the audit or the balance owed?

AmTrust may take the following actions:

Cancellation of current, in effect policy with AmTrust.
Assign to an external collection agency for debt recovery.

To avoid cancellation/collections, your outstanding balance must be paid or payment arrangements approved within (10) business days following your invoice.

I didn’t receive the audit notices — how can I update my contact details?

You can update your contact details via the audit portal or by contacting customer service at 877.528.7878. It’s important to keep your email and phone number current.

I canceled my policy and no longer have coverage from AmTrust. Do I still have to do the audit?

Yes. Even if your policy is no longer active, we still need to make sure you paid the right premium while it was. The audit doesn’t reactivate your policy. It just helps us make sure you paid the right amount for your coverage. Every policyholder is responsible to complete an audit whether they are still insured by an AmTrust company or not.