Workers Compensation Experience Mod Factor Review
Your workers compensation premium and rates are determined in large part by your experience modification factor, also called your X-Mod or E-Mod. If you aren’t regularly evaluating that rating, you might not be getting the best insurance deals and you could be overpaying premiums.
Our agency places great emphasis on accurate Experience Mods and has methods of reviewing and calculating yours. That will reveal how well you are performing in comparison to other companies in your industry, and could indicate where you are having loss control problems. In addition, we are able to project future Experience Modifications.
You might be surprised to find that in many cases our specialist uncovers errors in your experience rating data which can benefit you with a lower rating and a reduction in premium. In many cases, we have been able to retroactively reduce premiums. We have retroactively lowered our clients’ mods by over 1000 points, resulting in over $2,000,000.