Audit

P&C Services

A large premium adjustment due to an insurance policy audit can be an unwelcome surprise, especially if there is confusion around the accuracy of the figures.

As your advocate, it’s our job to fight for you.

We pay close attention to shortfalls in workers compensation audits, including worker classification, payrolls, experience modifier worksheets, credits and debits. We navigate you through the rating basis — the what, why and how. Between the wide variety of figures and formulas to manage, human error can happen, so we’re here to address those issues.

We help verify, challenge and analyze the insurer audits. And we will walk you through this process.

The bottom line is, all parties — insured, broker and carrier — all want accuracy around exposure and the associated rates and premiums.

FROM THE BLOG

Business Insurance Insights

2022 Health FSA Limit Increase

by Valent Group | Nov 11, 2021 | Business Insurance, Compliance Check, Employee Benefits, Human Resources, Safety

The IRS permits the following increases for health FSAs for plan years beginning in 2022: 1) $2,850 Contribution limit ($100 increase from the 2021 health FSA limit) and 2) $570 Carryover limit, for FSAs with a Carryover provision.

Auto Dealers Webinar: Negligent Entrustment

by Valent Group | Nov 1, 2021 | Auto Dealers, Business Insurance, Events, Risk Management

Negligent Entrustment Automobile accidents are a growing and expensive liability for dealerships, mainly due to distracted driving and a legal concept called negligent entrustment. Many garage liability policies do not offer coverage for incidents of negligent...

Foreclosing on a Condo/HOA Member’s Property

by Valent Group | Oct 26, 2021 | Business Insurance, Condo Associations, Risk Management

Recovering delinquent fees and assessments from members of a condominium or homeowners association (HOA) can be a headache for the HOA’s board. Each homeowner shares a piece of the association’s operating costs; when they fail to pay their fees, it prevents the HOA...