Insurance Audits

Are you afraid of having insidious insurers’ double-dip into your finances and make up for what they may have had to pay out?

Auditable policies are priced according to how your business performs during the year the policy is in effect. From the insurance company's perspective, audits simply let them collect the full premium they charged when the policy began. 

For example, Workers Compensation policies charge according to your company's payroll. Other policies base their charges on your revenues or the number of drivers you use.

Since insurance companies rely heavily on audits, they need to know as surely as possible that the information they collect is accurate. Therefore they prefer data -- like payroll and revenues -- that also is reported to other authorities. This allows them to cross-check and verify the figures and discourages cheating. Sometimes, as with workers compensation, laws and regulations mandate how carriers must charge.

Still, no one can deny that the system can be unfair. An audit's whole purpose is to produce accurate charges, but in so doing it uses measurements of risk that are inexact and at times misleading.

Riesgos Administrados provides a secure way to help Audit your company for a policy based on accurate data that benefits both yourself and the insurer. Our experience and recognized confidentiality allows us to deliver results with a mindset focused on giving added-value to our customers.