Boost Workplace Safety, Lower Insurance Premiums.

Experience Modification

Experience Modification rewards businesses with a positive safety record, as it leads to reduced workers' compensation insurance premiums. A favorable Ex-Mod not only lowers Work Comp costs, it also encourages businesses to focus on workplace safety and minimize claim expenses, ultimately enhancing a company's reputation, making it an attractive choice for clients and employees alike.

Understanding Experience Modification

  • Reflects company's loss history
  • Compares to industry averages
  • Influences workers' comp premiums

Promoting Workplace Safety

  • Incentivizes safety improvements
  • Reduces claim costs
  • Lowers premiums for safe workplaces

Calculating Experience Modification

  • Uses actual and expected losses
  • Considers payroll and risk classification
  • Typically reviewed annually

Benefits of Lower Experience Mods

  • Competitive advantage in bidding
  • Attracts top talent
  • Boosts company reputation

Managing Experience Modification

  • Prioritize safety training
  • Implement safety protocols
  • Encourage reporting of hazards

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