Experience Modification Rate: How Severity and Frequency Affect it Differently

August 17, 2009

Most employers believe that having a handful of smaller injuries spread across the policy year, will impact their experience modification rate to a lesser degree than by having an employee suffer o...

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Posted by drking | Filed Under Experience Modification 

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Experience Modification Rate

Are You Maximizing Efforts To Reduce Your Workers’ Compensation Costs?

 

Understanding your Experience Modification Rating (Experience Mod / X-Mod / E-Mod) and monitoring it regularly, plays a major role in reducing your Workers’ Compensation costs.

 
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Experience Modification Rate

Workers’ Compensation Rates

How are my Workers' Compensation Rates calculated?

 

The National Council on Compensation Insurance (NCCI) makes recommended rate changes. They use an intricate formula based on multiple factors. This information is given to the insurance companies and they adjust their rates accordingly.

 

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