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 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 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
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
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 – 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
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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