NJCRIB Updates Manual to Allow Virtual Premium Audits

The New Jersey Compensation Rating and Inspection Bureau announced a change to the Workers Compensation and Employers Liability Insurance Manual that it said reflects technological efficiencies in the auditing of payroll to determine premiums. Historically, employers were required to make payroll and tax records available each year for an in-person visit from an insurance company auditor on policies above $5,000 or when a claim is filed. Physical audits were done every three years on smaller policies. “With payroll and tax records now readily available in an electronic format, records ...