Insurance policies such as general liability (GL) and workers’ compensation are auditable each year by your insurance company. Though the audit process is relatively straightforward, if you don’t comply with the audit or plan for it properly, the process could become difficult and you could face costly consequences.
Whether you’re new to purchasing GL and workers’ compensation insurance or you’ve been buying these coverages for years, this guide will help you avoid problems at audit time. It reviews:
- What to expect of the insurance audit process,
- The types of information you’re required to provide during the insurance audit process,
- Missteps that can cause insurance audit problems,
- The potential results of an insurance audit, and how to prepare effectively, and
- Frequently asked questions about insurance carrier audits.