7 Secrets that Cost Your Client a Bundle on their Workers' Comp

Building Material Dealer Saves $19,057 due to Mod Reduction

Building Material Dealer employing approximately 50 employees and doing $30 Million/year in annual Revenues.
Insureds new experience mod was released for the upcoming year and found that their mod would be increasing from 0.79 to a 1.13 which could potentially 43% increase in their year over year workers comp premium.
Master WorkComp Advisor conducted an analysis of new mod and reviewed all claims impacting the new score that was reported as of the November valuation date. It was found that one claim which was contributing 0.15 points to the mod was closed out for $0 one month after the valuation date.
Master WorkComp advisor worked with carrier to have their unit stat department resend loss information to WCIRB since the claim was closed within the 2 month reporting period the carrier has to send filing information.
WCIRB re-issued the insureds mod at 0.98 which will generate a direct premium savings of $19,057 compared to what they would have paid at a mod of 1.13.