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Workers Compensation Experience Rating System Big Falsehood

The Big Falsehoods Of Workers Compensation Experience Rating Systems The Big Falsehoods of Workers Compensation experience rating system involve advisory rate accuracy.  I recently received an email from a regional insurance company reporting that a certain state had an 8% reduction in the advisory rates also known as loss costs.

Are Workers Comp Premiums Just Another Type of Tax?

Workers Comp Premiums – Type of Tax Yes, Workers Comp premiums could be thought of as a tax of sorts.   The similarities between taxes and Workers Compensation were spelled out in a previous article. Unemployment insurance (UI), which can be viewed as a tax, is even more similar.  

What Is An Experience Period?

Experience Modification Factor Calculated The experience period is the time frame from which the Experience Modification Factor (Ex-Mod, or X-Mod, or E-Mod) is calculated. The usual period is from the policies four years ago to two years ago. For instance if you have a policy that starts on 1/1/2010, your

Accident Year Experience Used Very Often By Captives

 Accident Year Experience The accident year experience differs from other types of experience measurement comparisons. The statistical matching of all losses occurring (regardless of when the losses are reported) during a given 12-month period of time, with all premium earned (regardless of when the premium was written) during the same

Experience Period Operates From Past Few Policy Years

Experience Period Does Not Operate In The Present The Experience Period is the interval in which loss and exposure data is used to calculate the experience modification factor for an employer. In normal circumstances, the time period is 3 years and begins 4 years in the past. However, if the



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