Experience Modification factors are wrong or mismanaged
Many Experience Modification Factors are wrong… almost all are mismanaged. There are just too many fingers in the cookie jar!
The Workers Compensation Rating Worksheet is the heart and soul of your Workers Compensation premium. The key to keeping your premiums under control is in the management of your experience modification.
Two critical terms you should know:
- Validation Date
- Experience Rating Adjustment (ERA)
If the impact of these terms on your mod has not been explained to you – you need to give us a call!