Premium Audit Specialist
The Premium Audit Specialist is responsible for the timely and accurate examination and verification of financial records of insureds to determine the correct premium basis amounts for insurance premium charges, in compliance with insurance regulatory requirements, test audits, and quality control audits.
ESSENTIAL DUTIES AND
Analyze and evaluate an insured’s
financial records to ensure proper recording of payrolls, receipts and other
premium bases as they apply to insurance classifications and
Plan, organize and schedule audit
assignments to be completed in a timely manner to maximize travel and client
on-site time efficiency.
Schedule and complete audits based
on company turn-around time requirements.
Gather information relative to the
insured’s operation to determine the nature of the entity and applicable
Actively communicate with
underwriting personnel and/or Premium Audit Supervisor when any unusual matters
or changes in insured’s operations or financial conditions are
Provide explanation/instruction to
insureds as necessary for proper record keeping of insurance exposures, rule
applicability and classification of
Organize independent judgment
(based on interpretation of insurance manual/rules and their applicability to
varied and often unique business
Utilize discretion, professionalism, ethical conduct, impartiality and confidentiality while working with insured’s and regarding their financial records.
Bachelor’s Degree required,
preferably in an Accounting or Business Major; or significant relevant
experience in a premium audit or accounting position within the property /
casualty insurance industry.
Continuing education in insurance
and premium audit courses, such as APA, CPCU
Minimum of 1 year of experience in property/casualty insurance premium auditing.
Must possess an in-depth
understanding of accounting principles and bookkeeping
Must possess thorough knowledge of
insurance coverages and classifications, with working knowledge of Workers’
Compensation and ISO General Liability rules, manuals and industry
Excellent oral and written
Good planning and organizational
Good time management
understanding of a variety of business operations and job
Demonstrated analytical skills and
attention to detail.
Good PC skills with a focus on
Microsoft Office Suite.
Must be able to work independently, with minimal supervision.
REQUIREMENTS (as required by
Must be able to operate a computer
keyboard, applicable printers and other general office
Specific vision abilities include
close vision, distance vision, peripheral vision, depth perception and the
ability to adjust focus.
Must be able to interpret and apply
concepts based on established guidelines.
Must be able to access and enter
information accurately, using automated
Must be able to reach with arms and
This position requires a
combination of sitting, standing, walking, bending over, and climbing stairs
throughout the day.
Must have a valid driver’s license,
acceptable MVR and be able to operate a motor
Must be able to travel, with some
over-night stays possible.
Must be able to maintain acceptable attendance and adhere to scheduled work hours.