Also known as the EMR or Experience Modification Rate, you’ll find the purpose of conducting an independent review of the Mod Factor or EMR is to verify its accuracy! The process followed and the multiple factors used in the production of a final mod is complicated and quite often errors and mistakes are discovered. Most business owners are unaware of the serious impact on their workers compensation insurance premium that a miscalculated EMR or mod factor can create. These factors may also effect more than the premium being paid. Many times this factor is used by government agencies or others to judge how effective a business conducts its affairs. A poor mod can be a factor in bidding situations where a maximum mod factor is set in the bid specs thus keeping some from bidding on jobs if their experience mod exceeds the maximum established.
Your Experience Modification Review will include:
We will review details of current factor items and may include: