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Important Information on flaw Your Workers' Compensation Premium Is Determined and the Attdit process When your policy was issued, the premium was based on an estimate of your business operations and your workers' payroll, At the end of the policy period, an audit will be performed to determine your actual payroll and business operations. We will be able to calculate the final Premium from this infgl•nnation. The Audit Process A review of your firlanccial records, such as payroll logs, general ledgers and tax returns will be required, A Mate Farm representative will contact you by mail, telephone or visit with you in person to obtain the Information. It Is to your benefit to have your accounting records set rip by employee and type of work they perform. We will also obtain a complete description of your business operations to confirm the classification codes on your policy are correct, We will assign the payroll to the classification code(s) that represent the type of work performed and apply the appropriate rating factor to determine your final premium,'T'he final audit prennlutn will be comparedto the esthnnated premium and a premium Adjustment Statement will be sent to you reflecting any change. please note that a significant change may require that we also adjust your current policy premium, Items That Affect Your Premium "AQkJ!wVA pwSq J fllcer -The remuneration used for each covered sole proprietor/partner/officer may be either a predetermined aannount, or actual remuneration* subject to a nninimum/maxinnum, "dt muneration means allpayroll and other forms of earning such as bonuses, txry anisstons, sick days, meals, and iodging, . Eenpl eq To nt)orgrvEiilplpye� j, l nn loy s • Actual remuneration paid to each employee. You may be respoinslble for temporary/leased employees regardless of the temporary, or leasing company's insurance arrangements. Use ofuicon radars - A Certificate of Insurance for Workers' Compensation coverage needs lobe obtained annually for every subcontractor you hire, Tf a subcontractor has no employees, a Certificate of Insurance for contractor's liability coverage needs to be obtained, If certificates are not obtained , the subcontractor and their employees may be considered as your employees for premium calculation, This could substantially increase your final prennlurn, Busilness 0 etatio,�n,,�, - The actual remi neratlon will be assigned to a classification code In aC rd.arice�ndustry rules as published by the National Council of Compensation insurance (NCGI) or specific guidelines as published byyour state, All a edit information provided will be kept coufidentied. If you have any questions concerning this information, please contact your state parm agent• The ire armation. coutafned tie this document outflnesgenerral a:ancepts. Inforireeir�t n required may vary by state and could be Impacted k f%JAWE y & APPROVED lay RIs MANAC,GMENr Division elate Pam P1ra and caaaalty Company aiuotninptonAL G9""t A t�• 1 , t-RMCINE R. VILIAREAL