In this episode of the Self-Insurance Podcast, brought to you by CRMBC, we delve into the intricacies of workers' compensation audits and reserves with Pilar Mitchell, Senior Partner at Michael Sullivan & Associates. Pilar shares her extensive experience in workers' compensation law, explaining the different types of audits conducted by the DWC and OSIP, the importance of accurate reserve setting, and practical steps members can take to ensure their reserves are managed correctly. Tune in to learn how to navigate audits, avoid penalties, and effectively manage workers' comp reserves to minimize financial impact.
00:00 Introduction to PAR Audits
00:13 Welcome to the Self-Insurance Podcast
00:27 Meet Pilar Mitchell
01:01 Understanding Work Comp Audits
02:27 Difference Between DWC and OSIP Audits
04:32 Importance of Accurate Reserves
06:32 How Members Can Influence Reserves
07:55 Best Practices for Documentation
09:13 War Stories and Real-Life Examples
11:11 Consequences of Failing an Audit
13:00 Conclusion and Final Thoughts
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