Premium Auditor

Frank Winston Crum Insurance • Clearwater, FL

1d • Hybrid

About The Position

Frank Winston Crum Insurance (FWCI) is seeking a full-time Premium Auditor to perform quality premium auditing of commercial policyholder operations and financial records. This role involves reviewing payroll, bank statements, profit and loss statements, tax returns, general ledger, cash disbursements, and expense ledgers to determine final exposures and premium adjustments on auditable commercial lines policies. The position primarily involves virtual/hybrid reviews and requires understanding business operations to determine correct classifications and factors affecting insurability, ensuring accurate calculation of audited exposures within strict insurance guidelines. The Premium Auditor will communicate findings through detailed formal reports supported by workpapers, review audit documentation to plan audit strategy, and investigate policyholder operations to obtain actual exposures and verify classifications. This role also involves providing information to external and internal customers regarding audit-related matters, discussing issues with insureds to ensure understanding and maintain good customer relations, and staying informed about changes in premium auditing through industry literature and expert correspondence. The Premium Auditor will also maintain Premium Audit processes, policies, and procedures, facilitate, interpret, and apply auditing rules and regulations per Company and Bureau guidelines, and compile and distribute audit process changes from regulatory partners.

Requirements

• Bachelor’s degree in Insurance, Accounting, Finance, Management, Business Administration, a related field, or equivalent experience.
• Knowledge of Premium Audit and Underwriting principles, NCCI Basic Manual Rules, and the application of Labor Codes.
• 4-5 years of experience in Workers’ Compensation/General Liability insurance operations or any equivalent combination of education, and training.

Responsibilities

• Performs primarily virtual/hybrid reviews of policyholder’s payroll, accounting, and financial records to determine final exposures on auditable commercial lines policies.
• Reviews policyholder’s business operations to determine correct classification(s) and identifying factors affecting insurability.
• Ensures that audited exposures (payroll, sales, fixed assets, etc.) are accurately calculated within strict insurance guidelines.
• Communicates audit findings through detailed formal reports supported by audit workpapers.
• Reviews appropriate audit documentation and/or company policy systems, to determine auditable exposures and coverages provided by the policy and plan audit strategy.
• Investigates policyholder operations to obtain actual exposures, verify classifications as they apply to the policy and ensure conformity to various state laws and insurance regulations for the appropriate audit period.
• Prepares detailed work papers and written correspondence in support of audit findings.
• Provides external customers (i.e., agents and insureds) and internal customers (i.e., underwriting, policy processing, claims and accounting) with information to assist in their understanding of audit-related matters, including audit exposures, procedures, and worksheets.
• Discusses issues and problems with the insured to ensure understanding of the change in premium exposures and to maintain good customer relations.
• Remains informed of changes and current information relative to premium auditing through discussion and correspondence with experts and industry-related literature.
• Maintains Premium Audit processes, policies, and procedures.
• Facilitates, interprets, and apply auditing rules and regulations per Company and Bureau guidelines.
• Compiles and distributes any audit process changes, class code changes, etc. from regulatory partners (NCCI), (PAAS/ISO), State OIR Bureaus.

Benefits

• Health Insurance is zero dollar paycheck cost for employee's coverage and a low cost for family plan.
• Dental and Vision Insurance
• Short Term Disability and Term Life Insurance at no cost to the employee
• Long Term Disability and Voluntary Term Life Insurance
• Supplemental insurance plans such as Accidental, Critical Illness, Hospital Indemnity, Legal Services and Pet Insurance
• 401(k) Retirement Plan where FrankCrum matches 100% of the first 4% the employee contributes, and the employee is immediately vested in the employer match
• Flexible Spending Accounts for Medical and Dependent Care Reimbursement
• Health Savings Account funded by FrankCrum
• Paid time off and holiday pay
• Education Benefit Program at the IRS Maximum allowance
• PTO cash out
• Tickets at Work
• Alero Financial and its robust credit union benefits program
• Employee and client referral bonus programs
• Disaster Relief Fund for employees

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level