Just as an annual medical checkup is a good way to monitor the status of health, at State Fund an audit is your annual policy checkup to help us ensure you are properly insured.
A routine audit is designed to:
A lot can happen in 12 months. During a fast-paced business year, policyholders may not always be aware of how some changes have affected their policy. For example:
A review of these aspects of the business helps verify current information and make accurate calculations regarding:
Any time a policyholder has a change in their business, it is best to contact our Customer Service Center or your broker immediately to see if these changes will impact your workers’ compensation insurance policy. Contacting us if considering changes will also help prevent any surprises at final audit.
Scheduling annual appointments for routine audits begins soon after policy expiration. Our goal is to schedule all audits within a short period of time after policy expiration despite seasonal peak periods.
Since the first quarter of the new year is peak audit season, appointments for January 1 policies can require additional time for scheduling. During this busy time, State Fund appreciates policyholder cooperation with scheduling an audit that will eventually produce a final statement for the expired policy term.
Policyholders may request a copy of the audit from the Regional Office or Customer Service Center upon completion. Audits are also available through our web-based portal, State Fund Online (SFO). If there is any disagreement with the results of the audit, policyholders may contact either our Customer Service Center or their broker for assistance.
