The State Fund is committed to educate employers to help them understand the independent contractor requirements and the complexities of the workers compensation system. Premium audits ensure integrity in the classification and rating system. Audits also provide an opportunity for us to visit with you and gain a better understanding of your business. Each year, the State Fund conducts audits on approximately 25 percent of all policyholders. Workers compensation insurance audits are used throughout the industry as a tool to ensure all policyholders pay appropriate premiums no more or no less than required.
Audits also ensure employees are properly classified.
Employers experiencing an audit should ask questions and solicit help from the auditors. It will help you comply with the law and have a positive overall audit experience.