What Does Premium Audit Mean?

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What does Premium Audit mean? Read on to discover the definition & meaning of the term Premium Audit - to help you better understand the language used in insurance policies.

Premium Audit

Premium Audit

An audit of the exposure basis for an insurance policy (i.e., payroll, sales, or vehicle count) after the end of a policy period to determine the actual (audited) exposure for the purpose of making a final calculation of the premium and premium taxes.

We hope the you have a better understanding of the meaning of Premium Audit.

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