New System Launched to Ease Annual Audit

A new system designed to make it easier for New York policyholders to manage their annual auditing is now online. Policyholders or their representatives can, from today, log on to the New York State Insurance Fund (NYSIF) website to access the new system. In New York, the premium is based on the previous policy year total. At the end of the year, the carrier conducts an audit and adjusts the premium for the following year. The new electronic system allows policyholders to schedule audits and choose the most convenient day and time. “The new system is part of NYSIF&rsqu...