General Liability Audit Mistakes That Blow Up Your Cash Flow скачать в хорошем качестве

General Liability Audit Mistakes That Blow Up Your Cash Flow

If you think your general liability premium is a fixed cost, you’re setting yourself up for a nasty surprise at audit. In this conversation with Stacey Langley, we break down how the GL audit really works, why your payroll and sales are only estimates, and how one wrong answer turned into a $20,000 bill for a business owner after his policy expired. We talk through how 1099 subcontractors are treated if they don’t carry their own insurance, what certificates of insurance and additional insured really mean in practice, and why a simple six‑month check‑in with your agent can protect your cash flow. Stacey also walks through what to do if your audit comes back higher than expected, how Texas Select advocates for you when auditors make mistakes, and how to prepare now if you’re on track to double your revenue this year so you’re not scrambling to write a huge check at renewal. CHAPTERS: 00:00 Why your premium is not a fixed cost 00:23 Why carriers audit your general liability policy 01:08 How estimates, payroll, and sales affect your audit 02:00 1099 subs vs employees in the eyes of insurance 03:02 Best practices with uninsured subcontractors 04:02 Getting and keeping certificates of insurance 04:32 Should you overestimate or underestimate sales 05:34 Midterm check‑ins and adjusting your estimate 06:33 When your audit bill looks wrong 07:32 How Texas Select advocates on audit disputes 08:35 Planning for a big growth year 09:38 Using midterm adjustments to protect cash flow 10:35 How long you have to pay an audit bill 11:35 The real goal of the audit and next steps