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.