Premium audit

{
  "id": "MLC-T-INS-002639",
  "term": "Premium audit",
  "field": "Insurance and risk management",
  "definition": "A review conducted by an insurer at the end of a policy period to verify the accuracy of the exposure basis used to calculate the initial premium. This process is common for policies like workers' compensation and general liability, where the premium is based on fluctuating factors such as payroll or sales. The audit may result in an additional premium or a return premium.",
  "url": "https://mlchart.com/terminology/insurance/premium-audit/"
}