Premium Audit

Premium Audits

Pay Your Premium With Confidence


Policies are issued with estimated figures at the start of a policy term. Once the policy term is over, MSIG conducts premium audits on all workers’ compensation policies in compliance with state regulations. We also conduct premium audits on general liability policies that our Underwriting Department determines are auditable at policy inception.

Why Is a Premium Audit Conducted?

Premium audits are conducted to ensure clients are paying accurate premiums. At the end of your policy term, our Premium Audit Department will complete a comprehensive audit of your operations using records such as payroll, sales and more. We also conduct premium audits to determine if the employee class codes in your policy accurately reflect your operations. You will find that the audit provides valuable information about your business, some of which you might not already know.

How Does the Process Work?

Depending on your operations and premium size, your audit will either be performed in-house or transferred to one of our vendor’s qualified auditors. Our team reviews every audit to ensure accuracy and thoroughness. MSIG will closely examine accuracy of final audit results, including nonauditable charges and deposit premium results. Once the audit is complete, the results will be distributed to your broker.

What Records Are Necessary to Complete the Audit?

To help your audit go as smoothly as possible, we ask that you keep accurate records over the course of your policy term. This will save you a great deal of time and work later on when it’s time for your audit.

You will be notified before your audit about the records we will need. Some of the records will include payroll, ledgers, tax information, contractor/subcontractor records and more. As long as you keep proper records during your policy term, you will be well prepared.

Who Are Our Vendors?

MSIG partners with reputable vendors to complete client audits, including:

How Do Insureds Dispute an Audit?

If you do not agree with the findings of your audit, our team is happy to assist you. Contact our department at When you contact our Premium Audit Department, please share the client name, policy number, reason for your request, your contact information and any supporting documents/information for your inquiry.

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Our offices are strategically located across the United States for your convenience and peace of mind. Whenever you need us, MSIG is nearby and ready to assist you.

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