Premium Audit

3 Types of Insurance Premium Fraud and How to Detect it

The Federal Bureau of Investigation (FBI) estimates insurance fraud to cost in excess of $40 billion each year, with premium diversion at the top of the list1. Premium Fraud is the willful misrepresentation of information with the intent of paying less than the appropriate premium for an insurance policy or insurance coverage. “There are always…

Premium Audits: Providing a Positive Client Experience

As your client’s business operations change, so may their insurance premiums. To make certain they are paying the correct premium amount an audit is commonly performed—requiring a premium auditor with a high degree of expertise, professionalism and understanding of your client’s business. Oftentimes, premium auditors are the only in-person interaction a policyholder experiences with a…