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Workers Comp Policy Just Renewed – Cut Your Work Comp Costs Now


Cutting Cost Of Workers Comp Policy Just Renewed

Your workers comp policy just renewed recently.  This is a critical time in the cost cutting.

Picture Of Woman Workers Comp Policy Just Renewed Counting Money

This can apply to all Workers Compensation policies. I am now mentioning it as most policies renew on January 1st. Now is the time to start working on cutting your Work Comp costs.

I have posted very often on when to start your company’s Workers Comp cost cutting by cutting your E-Mod. Attempting this just before your policy renews is a complete waste of time. Your policy renewal date has 0% to do with reducing your Workers Comp E-Mod or X-Mod (California).

There are two ways to look at the timing of your Workers Comp E-Mod. Six months before your policy ended, your Workers Comp E-Mod was already set in stone. The cost-cutting way to look at it is usually six months after your policy renews, your new E-Mod is set in stone for your next policy year with very few exceptions.  

Hand Presenting Workers Comp Policy Just Renewed Insurance Carrier

I have posted numerous articles on this in the blog. Feel free to use them as a guide for when to start your Workers Comp E-Mod reduction program. If your policy just renewed, the target date for beginning to look at loss runs is February 1st. Negotiating lower reserves on your files is a laborious process. An insurance carrier is not just going to reduce reserves because you called them on the phone.

This is my article on Workers Compensation Reserve Review Timing. It is timeless information. Knowing your policy renewal date is critical to understanding your policy’s E-Mod process.

Make sure that you know which files that may need reserve reductions. Having a claims department review the wrong claims for reserve reductions can actually cost your company in the long run. So, if your workers comp policy just renewed, now is the time to get to work to save WC $$$.

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Experience Mod Predictions Accurate?

Experience Mod Predictions – Accuracy Depends on Who/Whom You Ask Most Experience Mod predictions can be a tedious process that has cofounded most people working

James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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