A work comp insurance audit is a review of records by an insurance company to verify the payroll and class codes of a business for workers' compensation insurance¹²³⁴.
It may be done by mail, phone, or in-person¹². It ensures that the business has paid the correct premium for the previous year and adjusts it if necessary¹³⁴.
Class codes classify different job duties and their exposure to risk⁴. Workers' compensation insurance covers employees who sustain injuries in the workplace⁵.
(1) What’s a workers’ comp audit and how does it work?. https://pieinsurance.com/blog/workers-comp/what-is-a-workers-comp-audit/. (2) Workers’ Compensation Audit | The Hartford. https://www.thehartford.com/workers-compensation/audit. (3) 6 Common Mistakes on Workers' Comp Audits That Can Cost You. https://www.hourly.io/post/how-to-avoid-pitfalls-on-a-workers-comp-audit. (4) Workers Compensation Insurance Audit. https://www.workerscompensationshop.com/workers-compensation-audit. (5) What Is a Workers’ Compensation Insurance Audit? | Insureon. https://www.insureon.com/blog/what-is-a-workers-compensation-insurance-audit.