Understanding Your Workers Compensation Calculation Part 2
Last week’s post briefly what your workers comp experience mod is and how it affects your company’s premiums. This week we will discuss the importance of understanding the time period over which your experience mod is calculated, how NCCI evaluates your prior losses, and tips for keeping your experience mod low. What is the experience rating […]
March 10, 2017
Understanding Your Workers Compensation Experience Mod Part 1
The experience modification factor is a key component of your workers compensation premium. Understanding where this number comes from and how it is calculated is a very powerful tool to help businesses minimize their workers compensation premiums. The majority of states work with the NCCI (National Council on Compensation Insurance) for determining the calculation on […]
March 2, 2017
