FAQ: Audits
"Why am I being audited?"
Florida law requires us to perform audits on all our policyholders. Workers’ compensation premium is based upon the description of your operations and the estimated payroll you and your agent provided at the beginning of the policy period. Over the policy period, your payroll may have increased or decreased or your operations may have changed. The audit will allow us to evaluate the actual payroll and premium for the policy period. It will also allow us evaluate whether or not you are appropriately classified according to your operations.
"My company just started doing business and I do not have any payroll. Do I still need an audit?"
Yes. Even though your company may not have had any payroll, you still need to comply with the audit requirements. Please meet with the auditor and bring any and all pertaining financial documentation. The auditor will also have a form for you to sign.
"I was exempt for part or all of the policy period. Do I need to have my exemption(s) at the time of the audit?"
Yes. Please have all valid exemptions for the policy period present at the time of the audit. Please note that if there was a lapse in your exemption, you will be charged premium for the payroll earned during that lapse.
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