The insurance underwriting process can be a daunting prospect, but it pays off to fully understand all the steps.

When it comes to workers’ compensation and general liability insurance for your company, your policy is first based on estimated exposures. That includes payroll and classifications. For the final premium, your policy is based on a premium audit that determines actual exposures as compared to estimated exposures.

To conduct a premium audit, most insurance companies hire an outside, independent auditor. That’s not the case at BITCO. We have a team of auditors that handle most premium audits in-house. Even better: our auditors are located throughout the country, which means we can provide physical audits when needed, rather than conducting them through conference calls.