Don’t overpay on premiums

AuditRate™ is a proprietary solution designed to help employers uncover (and recover) Workers' Compensation and General Liability premium overcharges. 

Our team reviews your current and expired policies for premium calculation errors and then aids you in challenging and recovering any overpaid premiums — returning real money to your bottom line.

It’s effective

AuditRate™ finds errors in your current policy calculations, quantifies past premium overpayments, petitions your carrier(s) to make corrections and advocates for a full refund of your overpayments.

It’s low-risk

AuditRate™ works on a contingency fee basis, so it is an extremely low-risk solution. If we find no overcharges, you pay nothing and gain peace of mind knowing your premiums are accurate.

It saves you money

AuditRate™ catches and corrects classification code errors, saving you and your business from the compounding effect of larger-than-necessary annual premium payments.  

Frequently asked questions

    Alera Group's AuditRate™ cost-reduction audit is an in-depth review of current and expired insurance premiums. We analyze your rates, classifications, audits, premium adjustments, experience rating factors and other components that impact the premiums you pay. This solution provides you with an additional tool in the administration of your commercial insurance program.

    Since 1966, the AuditRate™ team has proven that premium calculation errors are quite common and cost insurance buyers a surprisingly large amount of money. These errors occur because premiums are calculated according to complex rules and procedures that are beyond the expertise of most agents, insurance company personnel and insurance buyers. No individual in the ordinary cycle of insurance renewals has the depth of knowledge to challenge the accuracy of these calculations. An AuditRate™ audit ensures that your premiums have been calculated correctly.

    When AuditRate™ uncovers a premium overcharge, we administer the process of correcting the error, causing the overcharge to be refunded to you. Since we "speak the language," we can guide your refund through the various bureaus and insurance company departments efficiently until final resolution.

    Our fee (50% of savings) is strictly contingent on you receiving a refund. We are paid only if you obtain a refund, and only after you receive the money. If you receive no refund, we collect no fee. A side benefit of our work is that it serves to reduce your future insurance costs for years to come.

    No audit of your insurance program is complete without a coverage analysis. No matter how large a refund we may obtain for you, if your insurance does not perform as intended, you do not have an economical insurance program. AuditRate™ will highlight errors and/or inefficiencies that may reduce your claim recovery. This service is performed at no charge.

    We know that your time is valuable. Over the years, we have streamlined our expert work process to involve as little of your time as possible. We can gather all the information needed for a cost-reduction audit in two (2) one-hour meetings. We then perform a detailed analysis of this information. Indeed, the short amount of time you spend with us will be a prudent investment for your company.

    Does AuditRate™ save enough money to make it worth my time?

    While we cannot guarantee you a refund, we save our clients significant amounts of money in over 40% of the assignments we accept, recovering cumulatively over $30,000,000.

    Why do we need AuditRate™ if our insurance is "quoted" frequently?

    The bidding process pressures agents to prepare quotes on an "apples-to-apples" basis, ignoring whether the original "apples" were really appropriate. AuditRate™ will determine whether your proposal was based on correct assumptions. We also check for technical, clerical and mathematical errors, which are not affected by the bidding process.

    What if errors are found that could actually cost us additional premium dollars?

    Our job is to tell you if your premiums were calculated in accordance with the rules and procedures set out to govern that work. If we find that you were undercharged, we tell you. This way, no problems with unanticipated premium increases will arise.


    Events and Webinars

    Property and Casualty

    2024 P&C Symposium

    Join us as we bring together top experts to cover key risk management topics, summarize economic and personal risk market conditions and hear recommendations for strategically engaging with carrier partners.

    May 1, 2024 at 08:30 am CT | Deerfield IL

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    P&C Symposium



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