Part 1 What premium credit factor generates more than 50,000 applications a year, issues credits worth tens of millions of dollars to policyholders every year, is required to be verified by premium auditors but is seldom verified? This is the little known Contractors Premium Adjustment Program. Beginning first in Florida in the late 1980s, this program has spread to 20 states nationwide and is administered by seven different bureaus. The program began in response to a perce
Describe your educational background.
I am a graduate of Walsh College where I received a bachelor’s degree in business administration with a concentration in finance. Since beginning my career in the insurance industry, I have earned the APA, CIPA, and CPCU designations. How long have you been involved in insurance premium auditing?
In March of 2009, I will have worked in insurance premium auditing for 23 years. How did you get involved with the insurance premium auditing
As NSIPA’s current historian and as a fan of oral histories and all things preservationist, I have been thinking for some time now that we as an organization need to know our history. How did we begin? Who were the proverbial movers and shakers? What are their stories? So begins what I hope will be the first of a series … Betty Gerdes. The name conjures images of one of our industry’s first female premium auditors. But what else do we really know? Those of you who help
Completing premium audits during a healthy economy can be a challenge in itself. Completing premium audits during a poor economic period presents even more complex challenges. Realizing some of these added challenges can make you a better auditor. Normally, policyholders are not very excited to see the premium auditor. However, during a poor economy, policyholders will actually call the auditor for an appointment — sometimes before the policy expires. This is not necessari