Frequently Asked Questions
Q: I'm very busy. Do you think I have time for a review?
A: Certainly. Compensation Guidance Services, Inc. (CGS) has designed our review process to take as little of your time as possible. Once we gather all your policy information, CGS will help you contact your agent or carrier to obtain any missing information. When your file is complete, the review is performed in our offices, and involves very little of your participation.
Q: How long does an review take?
A: It depends. Sometimes it takes a week, sometimes it takes a month. However, it will always require very little of your time.
Q: Is my agent going to be upset that I've arranged to review my policy?
A: Agents realize they don't have the time or resources to comprehensively review the policy once it's in force. It is appropriate to check their work and by doing so, you're helping them better serve you.
Q: If I just ask my agent to be more careful, why do I need you?
A: While we specialize in workers' compensation, your agent, most likely, does not. Workers' compensation is very complicated and, therefore, prone to errors. Because agents, often, do not receive documents they need to insure accuracy (i.e. experience rating worksheets, audit worksheets, etc.), they cannot fully verify if your premium is correct.
Q: Why do I need another review? My insurance company just performed an annual audit for me.
A: The annual audit you just received is for your insurance company to determine actual payrolls for the past policy year. The auditor is there to adjust your company's estimated payroll to the actual payroll figures-not to locate overcharges.
Q: Does my insurance company allow this review?
A: Absolutely. In fact, insurance companies want to know that the rules and regulations mandated by the Division of Insurance are being followed. CGS confirms compliance.
Q: What kinds of companies need to have an review?
A: Any company that has a payroll needs a workers' compensation policy. CGS clientele range from non-profit organizations to healthcare facilities, construction to real estate, manufacturing outfits to service oriented companies.
Q: How large is this refund?
A: While you may get nothing, most companies do qualify for a refund. Generally, the larger the company, the larger the refund.
Q: Once we agree to the review, are you going to try and sell me something-like a 'better' insurance policy?
A: No. We are not insurance agents, or an insurance company. Our business is to find, correct, and collect on the mistakes every agent and carrier makes due to the complexities of workers' compensation. We are fully independent and will objectively verify that your current and previous insurance companies did not overcharge you. If they did, we will help you collect your refund. Our fee is a percentage of what we collect.
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