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Selective Premium Audit

A premium audit is a review of business operations and payroll information to ensure your policy’s premium accurately reflects the level of risk of your business.

A premium audit helps ensure your policy's premium accurately reflects the level of risk of your business.

Why is a Premium Audit required?

Premium Audits are a standard industry practice that helps to ensure that policy premiums are accurate. Selective issued the Policy with an estimated premium based on information provided (e.g., payroll, sales) at the start of your policy term. Business operations can evolve, so an audit helps ensure that the Policy's premium reflects your true business operations.

What is the Premium Audit process?

Selective’s Premium Audit team is here to support you through the process and make it as seamless as possible. Here’s how it works:

  • Selective will contact you when it is time to complete your audit. 
  • You’ll be asked to provide detailed information about your business operations. You can complete this process through our online system. 
  • A Selective auditor will review the information submitted and compare it to the information submitted when the policy was issued. Auditors may also visit your business location to conduct interviews and assess the operations in person.
  • Based on the audit results, adjustments to your premium may be made. This can be in the form of a refund or additional premiums owed.

Frequently Asked Questions

Is a Premium Audit required?

What happens if a Premium Audit is not completed?

What documents are needed?

Who can I contact regarding my premium audit?