Premium Audits

NATSR offers the following types of Audits:

• Mail Audits
• Phone Audits
• Physical Audits
• Virtual Audits

We are your partner in ensuring that insurance premiums are based on actual exposure and risk of your operations, leading to fair and accurate pricing for you.

Premium Audits are conducted to ensure that the premium charged for an insurance policy accurately reflects the actual risk exposure of the policyholder. NSR Premium Audit will review the following key areas:

• Verification of Exposure Basis: We review the basis on which the premium was calculated to confirm that the reported figures match the actual figures over your policy term.
• Classification of Employees: Ensuring employees are correctly classified according to their job functions to confirm the correct level of risk in relation to premium calculations.
• Review of Business Operations: Examining the nature of the business to ensure that all relevant exposures are covered and that no significant changes have been made to the business that would directly affect the risk profile.
• Adjustment of Premiums: Based on audit findings, we ensure the policyholder cost reflects the optimal level of premium.
• Documentation Requirements: Gathering various documentation to support payroll records, tax returns, sales records, subcontractor agreements, and more for a smooth audit process.

Types of Audits Offered 

• Mail Audits: Conducted through the exchange of documentation via mail.
• Phone Audits: Performed through detailed interviews and discussions over the phone.
• Physical Audits: On-site visits to review records and operations in person.
• Virtual Audits: Utilizing digital tools to conduct audits remotely.

We are your partner in ensuring that insurance premiums are based on the actual exposure and risk of your operations, leading to fair and accurate pricing for you.