Policy Information Needed

The following items are needed for EACH POLICY YEAR to conduct a complete and thorough review. Please provide as many items as you can locate. The missing items will then be requested from your agent or insurance carrier. The number of years to be reviewed will depend on the information you can provide. Our most successful reviews date back eight (8) years, however we realize that obtaining this many years of policy information may be difficult. We ask that you do the best that you can.

Necessities:

  1. Renewal billing statements (indicating estimated payrolls, discounts, etc.)
  2. Final audit billing statements
  3. NCCI experience rating worksheets (all worksheets for all years)
  4. Loss history summaries (gross and net if available)
  5. All audit worksheets prepared by insurance company auditors
  6. A brief description of your business operations

If available:

  1. Dividend proposals and calculations (if applicable)
  2. Ledger of premium payments (a list of the amount paid and any amount received)
  3. All proposals provided by your insurance carrier prior to writing coverage
  4. All endorsements received
  5. Copies of all correspondence with your agent or insurance carrier

For a free evaluation of your workers’ comp policy, contact us now.
 

workers-compensation-insurance-mistakes-button-2 Policy Information Needed

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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Workers Compensation Rates