Archive for: Experience Mod & Premium Audit

Let’s start with a little quiz. An employee strains his back lifting a heavy box on Tuesday morning. He feels a quick twinge, rubs his lower back, and decides he’ll be fine. By Wednesday he’s moving a little slower, but he doesn’t want to make a big deal out of it. On Friday he finally […]

Are you leaving money on the table with your workers’ compensation? Don’t let past mistakes cost you! Many businesses unknowingly overpay and never recover those funds.

In this video, we’ll reveal the Current & Two Prior Rule and how it can unlock significant refunds. Here’s what you’ll learn:

* **The 3-Year Window:** Discover the timeframe NCCI and state bureaus allow for Experience Mod revisions.
* **Triggering Events:** Learn what types of errors and situations qualify for a retroactive refund (non-compensable claims, subrogation, etc.).
* **Why Your Agent Might Miss It:** Understand the disincentives that prevent some agents from pursuing these refunds.

Don’t miss out on potential savings! Take control of your workers’ comp costs today. Visit https://LockedAndLoadedTraining.com to learn more. Agents can sharpen their skills at https://www.workcompprofessionals.com/.

Think your NC workers’ comp audit is just a formality? Think again! Discover the hidden “highest-rated class” trap that could be costing your North Carolina construction business thousands. Learn how to audit your own payroll and avoid costly misclassifications.
Key Takeaways:
1. **The Trap:** How auditors default to the highest-rated code, ignoring allowed payroll splits.
2. **The Rule:** NCCI rules in NC permit payroll splitting with accurate time records for distinct duties.
3. **The Fix:** Proactive payroll auditing to prevent supervisors from being lumped with high-risk crews.

Take control of your workers’ comp costs today!
👉 For employers: https://LockedAndLoadedTraining.com
👉 For agents: https://www.workcompprofessionals.com/

Control Your Workers’ Comp Costs: The Top 10 Drivers Workers’ compensation costs are not random. They are the direct result of specific, measurable factors. If you want to control your costs, you must first understand what drives them. Most businesses are impacted by the same core issues. Here are the ten most significant factors that […]

Are Employee Bonuses Included in Your Workers’ Comp Premium? As you plan year-end bonuses and employee gifts, you need to understand how they affect your workers’ compensation premium. The answer isn’t always simple, but the rules are clear once you know what to look for. Your workers’ comp premium is based on your total employee […]

Take Control of Your Workers’ Comp Costs Before Day One Many business owners believe workers’ compensation costs are an uncontrollable expense. They are wrong. You have significant control over what you pay, and it starts long before an employee’s first day on the job. Let’s look at a common scenario. A Certified WorkComp Advisor worked […]

The Most Important Date for Your Workers’ Comp Premium Most business owners think about their workers’ compensation premium once a year: at renewal. This is a costly mistake. The key to controlling your premium is set in stone six months before your policy renews. The Snapshot That Determines Your Premium Six months after your policy […]

Why Ignoring Workers’ Comp Is a Costly Mistake—Even Now Workers’ compensation insurance has never been cheaper. In the last 30 years, rates have plummeted by over 80% in some sectors when adjusted for inflation. With costs falling here while rising everywhere else, it’s tempting to shift your focus away from your workers’ comp program. That […]

If you’re like most work comp agents, you’ve probably had this moment before: You run a mod analysis for a prospect. You uncover issues—injuries driving up costs, claims that could’ve been better managed, and a mod that’s costing them big. They’re interested. You’ve got their attention. And then they ask the million-dollar question: “So… what […]

While many employers focus on Workers’ Comp close to the renewal date, this is not the opportune time to control costs. It’s the valuation date, which is the day that the insurance company sends your claim information to the workers comp rating bureau. Although many refer to the date as six months after the policy […]