Independent auditors & Consultants
serving owners, CEOs, CFOs, Controllers, HR Managers, & Risk Managers
Serving Companies & industries burdened by substantial workers' compensation insurance expenses: construction, transportation, health care, manufacturing, etc.
Make Cytron Group LLC part of your insurance team.
Although we work mostly with small and medium sized business, our customers do include large risks with hundreds of millions of dollars in payroll, full-time risk managers, and representation by the largest brokerage houses in the world. Even with all of these resources, they still recognize the value of having experts on their team, and we still find savings and refunds for these clients.
If you are here, you most likely already know from our clients or have a suspicion that errors in work comp premium calculations and experience rating are common.
Managers can never be certain that they are receiving the proper price for work comp insurance because there is so much data, so many computations, and so many rules required to calculate accurate premiums. Honest mistakes and procedural errors are made frequently and they can be very expensive errors that inflate premiums indefinitely.
We Put Our Money Where Our Mouth Is
Adding Cytron Group LLC to your team of insurance resources doesn't cost you a penny. Our time is valuable just like yours. Yet, we spend our time on your behalf because we know how likely it is that we'll be successful.
Comprehensive premium audits are contingency fee based. We can afford to do this due to our success rate (or in other words frequency or errors discovered). We split savings with customers (you keep 60%) from corrections on current and prior policies. Anything we do that benefits you in the future is 100% value added; no fee.
What Cytron Group LLC does for their clients.
Most of our clients spend, annually, somewhere between the cost of a nice, small house to the price of a small business just for this line of insurance.
Purchasing something for which you have significant financial interest should require some form of due diligence; process for asking questions and evaluation to ensure proper pricing.
We invest our time (not yours) to serve this audit or investigatory function for our clients who don’t have the time, expertise, or both to perform adequate due diligence on their work comp insurance program; a significant financial commitment you MUST make every year.
We specialize in helping businesses improve their bottom line, increase sales (see Experience Mod), and keep more of their money by showing them where their insurance company is overcharging for workers compensation insurance and correcting those errors.
The results can be immediate. And, if you're actively focused on trying to control and reduce the cost of work comp insurance, immediate results are great for building momentum to drive your organization toward it's longer term goals.
Who's responsible to ensure accuracy of your audit?
Your broker is a coverage specialist. We are not coverage specialists.
On the other hand your broker is not an auditor, and there's no shame in that. In fact, find one of the letters you received from your broker that accompanied your most recent or any of your work comp final audit statements. No matter which brokerage firm you are with that letter says something almost identical to the following: "The audit appears to be accurate based on our review. Please review your payroll records to ensure they accurately....." The responsibility for ensuring the accuracy of your final audit is yours.
Remember, the payroll audit is only one of the elements that determine your final premium. There are many more; all prone to errors.
Also, consider the role of the insurance company's premium auditor who visits you annually. He/she is not there to do any favors for you. He determines how to classify your workers (possibility for errors) and how much payroll is to be included (possibility for errors). The auditor determines whether to charge for subcontractors. They are not there to advise you on how to lower your premiums.
Audit errors can "snowball" on you too. Any payroll audit errors, described above, that occur directly impact your experience modification rate. If your audit is wrong, your experience mod will be too.