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hey guys hows it going to shave with Eastman insurance solutions and today we are tackling the question what is an insurance premium audit this is a huge bone of contention in the commercial insurance space it is widely misunderstood and for common reasons is that its just not explained very well when an individual is purchasing an insurance policy for their business theres not a whole lot of communication as far as what may be the driving factors of the insurance premium are how those checks and balances are put into place and what your role is as the insured in producing this documentation the two most common coverages that youre going to see a premium audit are general liability excess liability as well as workers compensation essentially what happens is when you sign a new insurance policy with a company you are forecasting or you are estimating what gross receipts are going to be or what your payroll numbers are going to be and an insurance premium audit is the insurance comp