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No XMod On Premium Audit Bill – Reader Question

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Reader Question – No XMod On Premium Audit Bill

A reader question came in this week concerning the lack of an XMod on the premium audit bill.

Xmods or X-Mods are WCIRB’s equivalent of an E-Mod (EMod). The WCIRB is California’s equivalent of the NCCI. The full names of the acronyms are listed at the end of this post. This same question could also apply to E-Mods or Mods in states other than CA.

Emoticons with big question mark at the back No XMod On Premium Audit Bill
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You will not necessarily see an Xmod on your carrier’s premium audit bill. However, the X-Mod is critical in calculating your Workers Compensation bill. The premium audit report is often enclosed with the bill or very likely came under separate cover.

Most standard premium audit reports will have the X-Mod on the last page. If the XMod is different than the XMod on your original policy, you may want to question what caused the change. A caveat is to make sure that if you question the change of the XMod your company may receive an even higher bill.

You may want to call in a workers comp premium expert at that point in time. Any X-Mod changes in the same policy period is one of the Red Flags for possible overcharges on your premium. You may want to follow the link. It is one of the most read articles on this blog.

If you cannot locate your premium audit report, there should be a phone number or address on the bill. I always recommend writing the carrier (no calls or emails) to request a copy of your audit report. The fax is also a great way to request anything from your carrier.

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Your company should receive the audit report in 7 – 10 days at most after your request. I recommend looking over your complete policy and audit before paying any premium audit bill. There are usually time limits on paying your insurance bill. Waiting until the date the premium bill is due to make the request is usually not a good idea.

WCIRB -Workers Compensation Insurance Rating Bureau

E-Mod/Emod/Mod/X-Mod/XMod – Experience Modification Factor

NCCI – National Council on Compensation Insurance

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt 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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