Why should I hire workers’ compensation consultants?
Even if you have the best insurance provider with the best risk management, any errors and overcharges are still not corrected unless you get an audit conducted. The amount of money you can recover on your insurance premiums is in no way connected to how thoroughly your employees do their jobs. In fact, they are a result of your insurance provider inadvertently not complying with certain workers’ compensation laws. And you can only identify these errors if you hire someone with our expertise who is knowledgeable in workers’ compensation laws, formulas, and procedures reviews these variables, and correct any errors and overcharges that may have been made.
Why does my insurance carrier not fix any errors and overcharges in the workers’ compensation premiums?
Your insurance company does not automatically correct errors and overcharges because they are not required to do so without a formal requisition from you. Moreover, they don’t have any motivation to go back, correct an error, and pay you back the overcharges. Like everyone else, they are out there to make money and not find ways to give it back to you.
What if I have underpaid my workers’ compensation premium?
It is highly uncommon for companies to underpay their workers’ compensation premium because insurance companies go out of their way to ensure that there are no undercharges. If our audit identifies any undercharges for a given year, we will discreetly close that file so that no information is disclosed to the rating bureau or your insurance carrier.
How much time does the whole process take?
Our workers’ compensation premium recovery review is conducted off-site in the minimum time possible. It usually only takes between 2 days – 3 months.
How much will the audit cost?
Agard & Associates LLC works on a contingency fee. We only invoice you after you have received your refund check or premium credit as a result of our services. So if our team is unable to identify an error and secure you a refund or credit, there is no fee.
What will my insurance carrier or broker think about the audit?
You may worry about your relationship being affected with your insurance provider due to the audit. However, rest assured that our involvement won’t do you any harm. Agents and brokers understand that a happy client is ultimately good for them. Therefore, they won’t be offended. Similarly, insurance companies can use our audits to ensure that they comply with Workers’ Compensation laws and regulations to avoid any errors.
