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How to Read an Experience Modification Report
Your Experience Modification (Ex-Mod or X-Mod) is the single most important factor in how much you pay for your Workers Compensation Insurance premium. You can check yours for FREE once per year by going clicking here. For someone who has never seen one of these reports, it can be a bit intimidating. Where do these numbers come from? What does it all mean?
Many Experience Modification worksheets contain errors
Studies have shown that up to 80% of Experience Modification worksheets have errors. A good broker will audit the Ex-Mod for accuracy for you, but if yours is not providing this service, you should know how to do it yourself. Any errors could be costing you thousands of dollars!
Invensure offers FREE inspection of the factors that affect your experience modification. Call (800) 331-4700 to speak to a specialist about verifying your ex-mod.
