Comp Confidential

July 21, 2021 1 Comment

It’s not solving a bigger problem. If your experience modification is not addressed, you may have a cash-flow problem for years…   Here's a black-and-white example. Let’s say you paid $100,000 of workers

June 8, 2020 Comments Off

Unfortunately, we don’t all live in a bubble and accidents still happen (even if we try our darnedest).When employees get injured on the job or suffer from an occupational illness, workers’ compensation insurance

June 8, 2020 Comments Off

Prove it… Painting a picture of your company’s stance on safety might be the most important piece when pricing your Workers’ Compensation insurance. Can you provide items such as - employee handbooks, safety

June 8, 2020 Comments Off

From an ‘insurance nerd’ perspective, contracts can be a valuable tool or a deadly trap for a contractor...Many contracts are drafted by professionals with little knowledge of insurance coverage.And, too many construction contracts

June 8, 2020 Comments Off

https://youtu.be/EOR3XweDxY0An experience modification factor is your business’s workers comp rating. It’s like your grade for workers comp – and you're being grading on a bell curve with other “like” companies in your industry.

June 8, 2020 Comments Off

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

June 8, 2020 Comments Off

You better make sure… In most states, the contractors are liable for workers' comp benefits to an injured employee of an uninsured subcontractor. Although the upper-tier contractor’s work comp policy will respond to

June 8, 2020 Comments Off

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.

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