Workers Compensation Experience Rating

How does safety pay dividends to the business owner? Time and resources spent on developing a culture of safety repays the business in the long run. Safety cultures rely on reducing the number of workers compensation claims, in return, the odds of a disastrous claim are reduced. Business owners with workers’ compensation experience modifications above 1.25 need to review their safety policies with professionals. It is possible one year or even one claim causes this situation; but it should not be ignored. Discover and repair the root cause. MOD A 1.01 to 1.25 modification indicates worse than average experience. State rates can be less than adequate for a short period of time. The actuarial or mathematical calculations just incorrectly reflect 

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How to Prepare for a Workers’ Compensation Audit

Just the mention of a workers’ compensation audit causes fear to some. If you are scheduled for a workers’ compensation audit, there is no need to dread it or be fearful. A small amount of preparation and common sense can save you a lot of aggravation and money. Devoting a few hours of your attention now can save you a lot of time in the future. You need to give your full attention to the auditor and remain with him/her throughout the entire process. The process may take a couple of hours to complete. so make sure that the time and date of the scheduled audit is convenient for you. Call to reschedule the audit if it has been scheduled 

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