General Liability insurance audit .Please back?
Answers: Your General Liability policy was issued and rated according to estimates you provided of your payrolls or sale for the year. At the end of each policy year, your insurance company may contact you to conduct a physical nouns (physical audit) of your accounting records in directive to determine your actual payroll or sales.
If you are contacted by a your company's audit representative, the representative will explain the records you call for to have available for the audit and will make an appointment to congregate with you or a representative. It is important that the company representative update with the auditor be thoroughly familiar next to all company operations during the policy year; this will allow the audit to be in motion smoothly.
On occasion, the company might mail a worksheet beside instructions for you to complete and return in lieu of conducting a physical audit at your office; and so, you may receive a request through the mail asking you to complete this “voluntary audit.”
What's the question? Most GL policies are audited.