The Importance of Classification 
The foundation of all insurance policies is the accurate assessment of risk, and the specification of coverages to insure against those risks. One of the most important elements in this assessment involves the assignment of a risk classification code that accurately describes your business and the tasks your employees complete on a day-to-day basis. Your classification is one element of what determines your premium amount. Aside from being incredibly complex (with more than 700 potential options), these classification codes have not kept up with changes in technology and work.


The Bad News
More than 40% of all insurance policies are based on incorrect classification codes—either due to an incorrect assessment or changes to the nature of your business. Gone unnoticed, these errors compound as you continue to make larger-than-necessary annual premium payments.

The Good News
If you identify and document these errors, insurance carriers will refund these over-paid premium dollars, and recalculate your premium moving forward. But you need an objective partner with a deep working knowledge of the intricacies of the classification system and the tenacity to advocate on your behalf with the carriers.

 The Solution
With our proprietary AuditRate cost-reduction audit, we will review your current and expired policies to: 1) find any errors in your current policy calculations, 2) quantify past premium overpayments, 3) petition your carrier(s) to make required corrections and 4) advocate for a full refund of your overpayments.

Our fee (50% of your total refund and first-year premium savings) is strictly contingent upon 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. An added benefit of our work is that it serves to reduce your future insurance costs for the duration of your policy, or until your risks change.


Rich Swoik
Vice President

John Przybylski
AuditRate Consultant

Find out more about Alper Services.