40 Chestnut St, Lakewood NJ 08701


You can send an email to info@nrmaudit.com or call 732-710-0888

A premium audit is a means of acquiring records to determine the real payrolls, sales or different variable data that is used to calculate the insurance premium.

Previous to the start of your policy, your agent and provider underwriter anticipated your premium primarily based on your anticipated business operations. at the end of your policy period, an in-depth evaluation of your operations is needed to decide if rates have been effectively anticipated. The carrier may additionally want to alter your premiums based on actual business results, given changes that could have happened in your business. this is required by means of your policy and standard industry practice. Your participation in supplying requested documentation is essential in order to calculate your final premium.

This is dependent on the exposure basis of the policy but it could include the following:

  • Federal and State Tax Reports
  • Books of Original Entry (including source documents)
  • General Ledger
  • Cash Disbursement Journals
  • Job Contracts
  • Certificates of Insurance for Your Subcontractors
  • Gross Sales Report

In one of three ways –

In-Person: Our auditor visits your business (or your accountant) in-person to review your records and obtain all necessary audit information. Appointments are scheduled in advance in accordance with your schedule and the due date of the audit.


Telephone: Our auditor contacts your company representative by telephone and asks specific questions to obtain the necessary audit information. Pre-call arrangements are made to establish a convenient time.


Mail: A paper, fax, or e-mail form is sent to your company requesting the necessary audit information.

You may be required to provide certificates of insurance for your subcontractors. The auditor will also review when the work was performed and if there was an employer-employee relationship.

Keeping accurate records and documentation in the course of the coverage duration may save you time and likely money. An accurate audit depends on having the data prepared for review. If the audit is done in person, make sure that someone with a specific understanding of your business is available to answer questions, and evaluate the results of the premium audit.

Insureds are able to complete their audit using our online system and/or submit information electronically. The form of audit you’re eligible for is decided primarily based on premium size, sort of operation and state requirements. When you are eligible to use our online tool you will receive an invitation letter with a registration link.

Our fax number is 973-710-0889

You can send an email to info@nrmaudit.com or call  732-710-0888

If your quarterly tax reports don’t line up with your policy term, provide your last four filed quarterly reports or last annual tax report.  You may be asked to provide adjustment payroll information.

If your payroll report doesn’t match your policy term, you can round the payroll report to the first of the month.  It is acceptable to deviate from the policy period by 15 days.  For example, if your policy period is 6/15 – 6/15 you can provide payroll for 7/1 to 7/1 or 6/1 to 6/1.

Yes. If you are a registered online user, log in to the system via the provided link, and complete your audit. You can also fax documents to the number listed on the audit request communication letter.

You can send an email to info@nrmaudit.com or call  732-710-0888

You can send an email to info@nrmaudit.com or call  732-710-0888

An insured will be deemed noncompliant if the audit is not completed or if permission to review audit records is not provided.

Yes. The audit may be reversed once all the requested information needed to complete the audit has been received.