In the past, insurance premium auditing has caused problems for businesses. Audits were typically conducted by the insurance carrier, and final premiums were often incorrect, leading to unnecessary charges for the business.
In fact, 25-50% of business owners with insurance policies may have been overcharged during the auditing process. Additionally, annual workers comp premium cost in the United States is between $55 and $60 billion, with about 10-20% of premiums lost to leakage.