A number of techniques can be implemented to control ex mods…

• Adopt a loss control program that attacks loss frequency.

• Meet with claims rep to review and update loss reserves before unit cards are prepared.

• Request unit stat cards from insurers and review them before they are submitted to the Rating Bureau.

• Make sure no clerical errors are made by comparing the data to loss reports and premium audit reports.

• Understand the effects of ownership changes on mods before implementing them. If a change will be made, attempt to structure it to reduce the resulting modifier(s).

• Keep track of recoveries and request changes of modifiers when they are made.

• If operations are ever reclassified, determine if recalculation of current and past modifiers would be beneficial.

All of these items take time & experience to apply –

Make sure you work with an insurance consultant that will partner with you throughout the year on each one of these steps.

If you wait till renewal time…

You’re too late!

If you’re looking for a partner to implement these steps, reach out to schedule your 1st experience modification repair consultation today!