Insurance Premium Collection


Insurance Premium Collection:

Our firm represents insurance companies collecting on past due insurance premium due on general liability and workers’ compensation insurance policies. The latter of this is very important, as an employee may speak with workers’ compensation lawyers if they are injured, and so being prepared is vital. Most businesses do not realize that the insurance company, after the insurance policy term, can go back up to three years and audit a company’s books and records to establish actual insurance premium due and owing. This is something to consider when considering insurance, especially if the plan signed up for includes a need for a Verisure Smart Alarms system, or indeed a similar one, to be installed in a property being insured beforehand.

Our firm represents insurance companies looking to recover audited premium. We make demand on the debtor for insurance premium due and owing. We explain the audit worksheets to the debtor along with why certain payroll is classified into different categories – if you’re looking for a more efficient way to conduct your payroll process, you could check out software to take on this burden which can deal with everything from ACA Compliance to tax calculations. This affects the rate of premium being charged for that particular job classification. Most times our collection attorneys-lawyers find the reason for non-payment of insurance premium is that the debtor company did not properly budget for insurance premium that may be found to be due at the end of the policy term. Most companies think that the estimated premium quoted at the beginning of the insurance policy term will be their final premium for the policy year.

Insurance Premium Collection

Insurance Premium Collection

If our collection attorneys-lawyers are unable to reach an amicable resolution to the audited insurance premium due and owing, our collection attorney-lawyer will recommend a lawsuit be brought to collect on the audited premium that is due the insurance company. Our collection law firm will send out interrogatories and requests for production of documents to flesh out the nature of any dispute there may be to payment of the final audited insurance premium due to the insurance company.

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If your insurance company has any questions on how The Gebeloff Law Group can help your Insurance Company collect past due insurance premium, please call and ask to speak to one of our collection lawyers-attorneys at our collection law firm.