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Message
re: Commercial insurance / legal question
Posted on 9/17/14 at 8:40 am to nm1230
Posted on 9/17/14 at 8:40 am to nm1230
quote:
They are basing the GL premium on your financials. They have the right to audit.
Ding ding ding. This is the correct answer. When you paid your policy, you entered into a contract with them and the contract stipulates you must comply with their audit demands. All insurance companies do this.
-signed an underwriter with his CPCU and knows what he is talking about unlike the majority of people in this thread.
1
Posted on 9/17/14 at 8:46 am to jscrims
look people end of the year audits I do all the time thats routine I've never had a GL ask for this much before they will release the policy and if it would have been known beforehand that they needed this I would have gotten a different GL and never entered into a contract with them
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