Associate In Premium Auditing (APA)
What Does Associate In Premium Auditing (APA) Mean?
An Associate in Premium Auditing is a person who has been granted the professional status to audit premiums and perform other financial duties for insurance companies. To be granted the status of Associate in Premium Auditing by the Insurance Institute of America, one must pass a series of exams related to the field.
Insuranceopedia Explains Associate In Premium Auditing (APA)
Associates in Premium Auditing are tasked with performing analyses of contracts and looking over other financial data to make sure everything is in line. These professionals are expected to have accounting skills as well as extensive knowledge of insurance principles. For an insurance company to profit and perform well, it needs all of its accounting loose ends to be tied up. Associates in Premium Auditing help ensure the insurance company is financially sound and that premiums are performing as they should.