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Rules for Developing the Correct Premium

Total Credits: 2 including 2 CE Credit

Average Rating:
Commercial Lines |  Commercial Lines - Advanced |  Big “I” Virtual University
Course Levels:
All Levels
2 Hours
Access for 30 day(s) after program date.



Insurance premiums are based upon certain exposures which cannot be definitively known at policy inception, only estimated. Since the basis of premium is only estimated, the insurer may not be paid the correct premium for the insured exposure. To assure proper premiums, a premium audit is performed after the policy period ends.

Since agents are often caught in the middle of an audit, they need to understand all the facets involved.

Basic Course Information

Learning Objectives
  • Discuss the various entities and agencies involved in creating premium audit rules and guidelines;
  • Discuss who is and is not included in audits;
  • Discuss the who, what, and how of workers' compensation audits;
  • Discuss the who, what, and how of commercial general liability audits;
  • Discuss some highlights of commercial auto and garage audits; and
  • Learn the "ABC's" or rules of premium audits.

Course Materials


Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS's Profile

Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS Related seminars and products

Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.

During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:

  • "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," now in its second edition;
  • "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," now in its third edition;
  • "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"
  • "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"
  • "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"
  • "Workers' Compensation: How You Can Effectively Answer Your Clients 12 Most Commonly Asked Questions;"
  • "Glossary of Insurance Terms;"
  • "Choosing the Best Risk Financing Option;"
  • "Writing Property and Liability Coverage for Condos;"
  • "The Truth about Enterprise Risk Management;"
  • "The Experience Mod Worksheet;"
  • "What has ISO Done to us Now?" and
  • "Cancellations, Non-Renewals & Conditional Renewals: THE Insurance Professional's Guide to Statutory Insurance Carrier Notification Requirements for All 50 States!"

Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.

A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist


Thu, Jun 15, 2023 - 02:00pm to 03:59pm EDT
Mon, Jun 19, 2023 - 08:00am to 09:59am EDT
Fri, Jul 07, 2023 - 10:00am to 11:59am EDT
Mon, Jul 24, 2023 - 12:00pm to 01:59pm EDT
Fri, Aug 04, 2023 - 02:00pm to 03:59pm EDT
Thu, Aug 24, 2023 - 08:00am to 09:59am EDT
Tue, Sep 12, 2023 - 10:00am to 11:59am EDT
Wed, Sep 20, 2023 - 12:00pm to 01:59pm EDT
Tue, Oct 03, 2023 - 02:00pm to 03:59pm EDT
Wed, Oct 18, 2023 - 08:00am to 09:59am EDT
Mon, Nov 13, 2023 - 10:00am to 11:59am EST
Wed, Nov 29, 2023 - 12:00pm to 01:59pm EST
Tue, Dec 12, 2023 - 02:00pm to 03:59pm EST
Thu, Dec 28, 2023 - 08:00am to 09:59am EST

State Specific Details

State Approval Information Details NJ - This course is approved for 2 hours of credit # 88901219



Overall:      4.9

Total Reviews: 16