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January 2009

Your E-Mod Is Not Only Important Number in Workers Compensation

E-Mod And X-Mod System I have posted very often about how your company’s E-Mod /X-Mod can make or break your Workers Compensation insurance budget. One of the most popular questions we receive is “Our E-Mod is low and we have had no accidents. How can our premium have increased so

Workers Comp Budget Killed By Incorrect Payroll Forecasts

Payroll Forecasts vs.Workers Comp Budget Your payroll forecasts can affect your Workers Comp budget . One of the main components of your Experience Modification Factor (E-Mod/X-Mod) is your company’s payroll.  One of the disturbing trends that we are seeing is that the payrolls from the last year are used to

NOC – What Does That Mean?

Workers Comp Rating Acronym NOC NOC  is an acronym you need to know.     Another great question from one of the blog readers – We received our Workers Comp policy for this year. We noticed that all of our positions – Classification Codes have an NOC on the end

Workers Comp Captive Insurance Arrangements Question

Workers Comp Captive Insurance A question from one (and I love to hear from our blog readers) of our readers on Workers Comp Captive Insurance arrangements – We are a smaller employer with less than 100 employees. Our E-Mod/X-Mod sharply increased from .8 to 1.3 over the last two years. Would

Small Deductible Workers Comp Programs – Do They Work?

Small Deductible Programs Can Affect Claims Reporting Small deductible programs is always a much-discussed topic when employers are looking to cut their WC costs. This was a question that was emailed to me earlier this week.  We have audited the policies for a few small deductible programs.  The most recent

Offshore Captives Could Be Last Haven In Hard Market

Most Offshore Captives Look Much Better In Workers Comp Hard Market Most offshore Captives look great in a Workers Comp Hard Market. For many years, I did not catch on to the concept of captives in the Workers Compensation market. As insurance and reinsurance markets start to harden quickly, I

Two Large Self Insured Groups Fail – Are There More to Come?

Two Large Self Insured Groups Fall On Hard Times The Preferred Auto Dealers Self Insured Program of California failed due to the large reduction in the number of dealers and the shrinkage of the surviving car dealers.  Due to the recent credit crunch the fund was unable to obtain an uncollateralized

New Years Resolutions For 2009 Workers Comp And Beyond

Workers Comp New Years Resolutions – Kicking The New Year Off Right Your New Years Resolutions for Workers Comp are listed below.  Now that the New Year is upon us, I was trying to think of the resolutions that employers might have to save on their Workers Comp premiums. As an

Workers Compensation Premium Audits – Its That Time Of Year

Almost The Time Of Year for Workers Compensation Audits Its that Workers Compensation Premium Audits Time of the year – almost. With the largest number of employers renewing on January 1, the number of audits increase dramatically in January and February.  If your Workers Comp policy renewed on 1/1, you



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