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Excess Loss

WCIRB ‘s New Mod Formula Hefty Effects Small California Employers

WCIRB ‘s New Mod Formula – Small Employers Must Enact Safety Programs Now WCRIB’s new mod formula will heavy affect small employers with a less than stellar safety record. Last Friday, I briefly covered California’s WCIRB and the change in the X-Mod Calculation effective 1/1/2013.   I thought I would

Reinsurance/Excess Insurance Market Hardens

Reinsurance Market No Longer Soft The reinsurance/excess Insurance Market has started to change from a commodity marketplace.  The excess insurance market is usually the bellwether for the rest of  the marketplaces. Reinsurance/Excess Insurance is basically defined as a risk management technique.  The employer will purchase this type of insurance to

California Employer Question On Experience Modification Factor (XMod)

California Employer Question A California employer emailed in this question last weekend.  “We are a medium-sized employer (dry cleaner) in central California.   Our Experience Modification Factor increased significantly over the last few years.  The increase seems to have resulted in our Workers Comp premiums rising  significantly.   What is

How Do Excess Losses Affect My Premiums – Reader Question

Term Of The Day – Excess Losses In the Experience Modification Factor formula, Excess Losses are the amount of any single claim that is more than the cut-off point for inclusion as a primary loss. The NCCI experience rating formula uses the threshold of $15,000. The threshold varies in the formulas

Excess Loss Is Very Important on Experience Mod Sheets

Term Of The Day – Excess Loss The Workers Comp term of the day is excess loss.  It is the amount of a Workers Compensation claim that exceeds the Primary Loss – usually $5,000.  The Excess Loss does not affect the EMR/E-Mod/X-Mod as much as the Primary Loss on a

Split Points – There Is No Such Thing As Small Claim – Part III

Split Points – A Small Claim – Part III  Split points represent the line between as the Primary and Excess Loss parts of a claim.  Well, we have covered how a small claim is not really such a tiny claim after all. The one thing that we often see in workers

Small Workers Comp Claim Does Not Exist – Risk Is Risk

A Small Workers Comp Claim Is Still Expensive The term small workers comp claim is such a nefarious item.   I have heard that term often over the past 27 years.  The term should be a smaller part of the risk of a larger loss.   Please note this is an older post

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