Workers Compensation Experience Modifier

Workers Compensation Experience Modifier

June 07, 2021

Workers Compensation is one of the most critical insurance coverages that employers purchase.  The rating factors vary widely from state to state so monitoring your loss activity can have a meaningful impact on the price you pay versus your competitors.  The National Council on Compensation Insurance (NCCI) reviews loss data from carriers in 36 states.  The primary data they provide back to the carriers relates to the Experience Modification Factor.  This reflects a company’s specific loss history compared to others in a similar industry.  Two companies with similar payrolls and job type exposure can realize dramatically different premiums based upon their history of loss types and amounts. 


At the Galt Insurance Group, we have the expertise to review each of our clients Experience Modification documents and search for potential inaccuracy located within them.  If incorrect data exists, we can petition NCCI on your behalf to recalculate your factor and confirm that the premium you pay is fair.  This is especially important for our clients in the construction industry as the cost of Workers Compensation can be the difference between whether or not you are awarded a job contract.  We look forward to helping you with Workers Compensation as well as your other Commercial Insurance needs.