Workers Compensation policies are rated based on payroll amounts per job description.  When quoting a Workers Compensation policy, our companies need to know what the estimated payroll figures for each class code will be for the upcoming policy year.  These figures are estimated based on current trends of your business and your industry in general.

The Workers Compensation audit occurs after the end of the policy term to determine what actual payrolls were paid out for the previous term.  This can result in either additional payroll being added on resulting in additional premium due to the company, or a reduction in payroll which results in a credit back to you.  

It is important to advise The Starr Group of any significant changes in your payroll during the current term.  We can adjust your policy at any time during the year and can potentially avoid a large amount due after the audit if the payroll is underestimated or can increase your cash flow now if payrolls are overestimated.

Feel free to contact your agent at any time to discuss changes that you may need.

For more information or questions contact your agent at The Starr Group.