Business insurance premium is subject to audit: workers compensation audits payroll, product liability audits sales, payroll as well is under audit in the construction industry.
And if you ever had business insurance and gone through the audit, I am sure you’d been wondering around confusing forms on multiple pages, that required you some calculations and even your accountant was raising the eyebrow.
Well, lucky us, no longer that would be the case with policy written through Select Travelers Insurance as the national rollout of our new ePHR (Electronic Policyholder Report) audit process to all eligible Select Policyholder is taking place this month.
This new process demonstrates our commitment to ease of doing business, by making it simple for policyholders to complete their audit online.
Policyholders who are audited will receive instructions on how to access an online interview through which they can provide their audit information as well as fax or upload the appropriate supporting documents, such as tax forms and certificates of insurance. Most policies in the rollout are Workers Compensation; however, there will be some small business Master PacSM as well as other General Liability policies affected.
Some of the new features include:
Elimination of paper interview. The paper PHR will now be replaced by an Invitation Letter that contains the policyholder’s user id and temporary password and web address to register and complete the audit.
Specific interview based on business type. The ePHR is tailored to the insureds business based on classification and other policy specific criteria. The previous paper PHR was generic, for instance a contractor and a restaurant owner would receive the same PHR.
Faster, user-friendly, aesthetically pleasing process. Policyholders can upload employee data and information into the new online tool, eliminating the need to fax paperwork.
Companion Policy Process. Today the customer will receive a separate paper PHR for each policy. ePHR allows the user to receive one Invitation Letter and access all the policies with one registration. Recognizing that there are policyholders who may be unable to complete the electronic version and wish to complete the audit in the paper version, policyholders will be able to request the paper PHR by contacting the Premium Audit Customer Service Team.
If you should have any questions regarding a specific policy, please contact Premium Audit Customer Service at 1-800-842-4271 or email at AUDITCS@Travelers.COM.
To learn more about ePHR, click on the links: