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AmTrust Announces New Audit Noncompliance Charge

To comply with state bureaus and the National Council on Compensation (NCCI), AmTrust introduced a new audit noncompliance charge for workers’ compensation premiums. If a policyholder does not complete the request for a premium audit, the ANC will be applied to the policyholder’s initial estimated annual premium based on the specific rate for their state. For more information about the ANC, please download our PDF.



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What is a Premium Audit?

Premium audits are vitally important – not only do they determine the final premium for an insurance policy, but also the data collected is later submitted to rating organizations, such as NCCI and independent bureaus, to be used in developing experience modifiers and loss costs.
 
Workers’ Compensation premiums are estimated prior to the start of a policy and are based on expected business operation and payroll information. To ensure these figures are accurate and classifications remain appropriate, all Workers’ Compensation policies are subject to an audit to determine the actual premium. The audit takes estimated payroll and converts the policy premiums, so they are based on actual payroll. Audits are required by Workers' Compensation law and the obligation is noted in every policy AmTrust writes.

Learn more about Premium Audit on our Frequently Asked Questions (FAQs) page.



 
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Online Audits

A faster, easier alternative to mail audits is to complete your audit online. All AmTrust Workers’ Compensation policyholders who are eligible for a mail audit can complete their audits via our updated online portal. Insureds need to be registered for AmTrust Online to do their premium audit online. Registration is quick and easy via Amtrustfinancial.com in the login dropdown menu.

Our new online portal makes the required workers’ compensation premium audits faster to complete. The online portal offers:
 
  • Easy login
  • Intuitive interface
  • Policy information prefilled
  • Secure data transmission
  • Automated calculations, not estimates
  • Fewer processing errors
  • Faster refunds
To start the process, log in to AmTrust Online and select “Start an Audit” to begin the process. All you need to start is your policy number and zip code. When you are ready to proceed with your audit, follow the on-screen instructions to fill out each section of the form: General, Payroll, Verification, Subcontractors and Summary.

A step-by-step training video is available for you on the Insured Portal to view before you start your audit.
 

Mail Audits

A mail audit is completed by the insured using forms that are mailed to them. To complete the audit endorsement, insureds must fill out the forms completely and return it to us along with payroll-supporting documents. If your policy is assigned for a mail audit, you can expect to receive an audit form shortly after your policy expires or is canceled.

If you have any questions, please contact us at 877.528.7878 and we will be glad to help you through the process.
 

Physical Audits

Audits are sent to a third-party firm to review the insured’s payroll information for the policy period, as well as their operations to verify their premium accurately reflects their coverage. The auditor will return their summary to us to complete the audit endorsement. If your policy is assigned for a physical on-site audit, you can expect to be contacted by our audit representative after your policy expires or canceled.
 

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