NAIIAE Physical Premium Audit Minimum Standards

1	Attempt to obtain at least monthly figures, provide explanation if different. Follow industries standards of a good audit trail.

2	Address standard exceptions, with names and invidual remuneration shown separate.

3	Check for overtime pay, misc. labor, sub contract labor and C-125 payroll.

4	Exposures verified to a second source (e.g. government tax reports) or explained if not available.

5	Detailed description of operations, justify and explain all classifications used.

6	Variances in exposure of more than 20% and excess audit time are fully explained and documented.

7	All owners/officers listed individually providing a thorough description of duties and details on remuneration and classification.

8	Premium audits will be completed in accordance with special instruction of the customer.

9	Audits will be completed within the time service requirements of the customer. Any delays will be communicated.

10	Signature of authorized representative and release form checked and signed.

Membership Benefits
- Joining together with your business peers.
- Opportunity for future business association.
- Open and frank discussion of mutual problems and needs.
- Interchange of technical business management concepts.
- Obtain information on current and potential industry trends.
- Advertisements in a national directory
- Published Code of Ethics to the insurance industry
- Annual business meetings held in diverse areas around the country.
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