And why you should care…

Most states use the National Council on Compensation Insurance (NCCI) to collect data and calculate the Experience Modification Factor.

But some states have their own independent rating bureaus.

We here in California use the Workers’ Compensation Insurance Rating Bureau of California,

(WCRIB) is what the cool kids call it… Or, maybe just insurance nerds.

Your carrier must submit your information annually to the rating bureau.

Submitted is your payroll information,
broken down by class code,
and your loss information;
including all claims and reserves.

The rating bureau aggregates all data within a class code to determine rates, and what are the expected losses within an industry group.

That’s why it’s important to make sure ALL the information above is accurate and current!