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If a customer owes more after a workers’ comp audit, it’s generally because of underreported payroll and | or misclassified employees. On average, customers on direct bill owe 5 percent more following an audit.1 However, in 2020 and 2021, a time when many businesses could least afford it, this percentage spiked to between 10 to 14 percent.1
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But for some customers, the annual premium audit is a non‑event. They are the ones who elected our pay‑as‑you‑go billing option. Compared to direct bill, payroll customers generally owe nothing, or a very small amount, following their audit.1 Even in 2020 and 2021, the average adjustment for a payroll‑billed customer was less than 1 percent.1
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YOU WIN TOO! Customers with the pay‑as‑you‑go option, retain at 3 points higher than those on direct bill.2 This means less work for you at renewal.
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In addition to selling pay‑as‑you‑go, there’s more you can do to make the audit process hassle‑free. It all begins with encouraging customers to register for My Account. See how everyone wins when they do.
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Pay‑as‑you‑go and a better premium audit experience. Two more ways The Hartford delivers EVERYTHING you need to win in small commercial.
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