The Hartford Financial Services Group, Inc., has introduced aWeb-based audit reporting tool for small business policy holdersthat will allow quick, convenient audits and updates for theirpolicy renewals.

The Hartford, Conn.-based carrier has introduced what it termsas a "groundbreaking" online Premium Audit Reporting tool thatsimplifies the process of submitting information to reconcileinsurance premiums.

Because most commercial insurance premiums are provisional,calculated at the beginning of the policy year based on estimatesof the business operations throughout the year, they are auditedprior to renewal. Any changes in the business that affects thepremium, including increases or decreases in payroll and sales, arereflected after the audit in the new premium.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.