A New Jersey-based chemical manufacturer partnered with Premium Recovery Experts to conduct a thorough analysis of their Workers’ Compensation audits from the past five years. During the review, our team identified that 10 employees had been incorrectly classified under the governing code for manufacturers, though their roles were clerical in nature. This misclassification resulted in higher Workers’ Comp premiums than necessary.

After completing the analysis, we provided the client with comprehensive documentation detailing the misclassifications for the past three years. The client then submitted this report to their insurance carrier for review. Upon review, the carrier approved the corrections, which led to the client receiving a substantial refund of $69,332.

In addition to the refund, the reclassification of these 10 employees will now result in lower Workers’ Compensation premiums for the client moving forward. They are expected to save approximately $20,682 annually on premiums. Over the next five years, these savings will accumulate to over $100,000.

This successful audit highlights the importance of accurate employee classification and how companies can benefit financially by ensuring their Workers’ Comp classifications align with the actual job roles of their staff, preventing overpayment and securing potential refunds.

If you think your company may be entitled to a refund, contact us today.