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.
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.
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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