Am I required to report the insureds name on the audit file?
No. If you would like to provide this information to retain in your file for the auditors, that is fine. Q: Do I need to send the FSBA audit file to Paragon? A: No. Retain this file for your records. DO NOT send the FSBA audit file to Paragon. Q: Since the Data Call instructions for capturing exposure data and developing the audit file specifications do not require a premium to be reported, is the premium amount no longer required for audit purposes? A: A detailed premium report which reconciles to the company’s annual statement may be required at the time a company receives an audit notice (this is a separate report). The company usually receives 60-90 days advance notice of the date the FHCF will conduct an exposure audit. The advance notice provides detail information which describes the records the company is required to produce for the audit. The audit file described in the Data Call instructions is intended to direct the company on how to retain the detail information which suppo
