Experience Modification Review - An Independent Service We Provide Our Clients

One of the services we provide is an independent review of your experience modification factor. As you are aware this workers compensation premium modifying factor can have significant impact on the calculation of premium and ultimately the total cost of your workers compensation insurance policy. Because of the many individual factors and complexity of the calculations involved in arriving at an experience mod factor we always advise our clients to have their e-mod worksheets reviewed for accuracy each and every year.

Our Experience Modification Factor Review includes:

• verification of our clients payroll used in the calculation of their mod;
• verification of loss claim data provided by the insurance company to the rating authority responsible for calculating the e-mod;
• verification of timely reporting of data to the rating authority by the insurance company;
• verification of current rating items and details used in producing the mod factor and may include:
  
  
  • Review of Code, D Ratio and ELR or Expected Loss Ratio
  • Actual Incurred and Primary Losses
  • Expected Losses and Primary Losses
  • ERP, Experience Rating Period

Also known as the EMR or Experience Modification Rate, you'll find the purpose of conducting an independent review of the Mod Factor or EMR is to verify its accuracy! The process followed and the multiple factors used in the production of a final mod is complicated and quite often errors and mistakes are discovered. Most business owners are unaware of the serious impact on their workers compensation insurance premium that a miscalculated EMR or mod factor can create. These factors may also effect more than the premium being paid. Many times this factor is used by government agencies or others to judge how effective a business conducts its affairs. A poor mod can be a factor in bidding situations where a maximum mod factor is set in the bid specs thus keeping some from bidding on jobs if their experience mod exceeds the maximum established.

Our Experience Modification Rate or Experience Modification Factor Review is designed to validate the individual factors used to calculating these workers compensation premium modifiers.

If your E-Mod Rate has not been checked by an independent source then give us a call or click on the above button and set up a review for your business today!

And best of all...you can choose how we get paid! We offer our experience modification review service on two compensation plans. The hourly rate plan where you just pay us for our work; or the combination plan where we charge you a reduced hourly rate and share any return premium we get back for at a reduced rate!

We do our best to make this service affordable! You can choose what's best for you!