The last thing anybody wants is to be involved in a workplace accident that causes a serious injury. However, when such accidents do take place, having loads of facts and information on hand can allow all parties to work through the ever-so-complicated insurance and legal systems. In such cases, determining the extent of someone’s injury […]
Workers Comp Disability Rating Explained Read More »
The worker’s compensation experience modification rate is a number insurance companies use to help determine workers comp premiums – it is a safety score. You might also refer to it as comp mod, experience mod, EMR, and an X-Mod. So what is a good experience mod rate? Let’s discuss. Understanding The Experience Mod Your X-Mod
What Is a Good Experience Mod Rate? Read More »
The Bureau of Labor Statistics reported 2.8 million non-fatal workplace injuries in 2019. Unfortunately, up to 5,333 U.S. workers die on the job due to fatal injuries, including forklift-related hazards, loading docks and conveyors, and handling hazardous materials. Thus, workplace safety should be one the top of every employer’s list. In this blog post, we’ll discuss
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As an employer, you want to pay as little as possible in workers comp premiums. This is where minimum experience mod comes into play. The closer you are to the minimum mod, the less you pay in premium. Having sound knowledge of the minimum experience mod can help you keep your premiums low. We will
What is a Minimum Experience Mod? Read More »
The experience modification factor (EMF), or X Mod, is the number that represents your company’s likelihood of having injuries in the future, based upon your company’s prior claims experience. The Experience Mod takes into account your company’s size and industry and assigns a safety score (or X mod) in regards to your workers’ compensation insurance
How Can I Reduce my Experience Modification Factor? Read More »
An X-Mod, also known as the experience modification factor, experience mod, and EMR, is the number that represents a company’s likelihood to have future injuries. It considers the company size and industry. In other words, it is your company’s safety score regarding your workers’ compensation insurance coverage. Expected Losses and Actual Losses The X-Mod compares